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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessNBH Could Surprise The Market This Week With A 30bps Hike
- Even though market is currently expecting the NBH to hike by 15bps tomorrow (Oct 19), odds for a more aggressive hike (i.e. 30bps) are still elevated given the board's sensitivity to rising inflationary pressures.
- Although EURHUF is still trading below the 370 'key resistance', selling pressure could increase if NBH follows consensus with a 15bps hike.
- Policymakers mentioned at different occasions their intension to slow down the pace of the tightening cycle until the end of the year.
- With inflationary pressures expected to last until the end of 2021, the sharp 20% increase in minimum wage combined with a potential hike in public sector wages for next year could potentially lead to a slower convergence of inflation down to the 3% target within the next 12 months.
- EURHUF has been retracing higher this morning, currently trading slightly above the 360 level; next resistance to watch on the topside stands at 362.50. On the downside, first support stands at 358.60, followed by 356.55 (200DMA).
- Hungary 10Y yield continues to retrace higher, gradually approaching its 3.81% resistance; next level to watch above that level stands at 3.93%. On the downside, first support to watch stands at 3.61%, followed by 3.50%.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.