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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.
HUNGARY
- The NBH decided to keep its 1W depo rate at 5.85% this morning after raising it by 50bps last week to ease the selling pressure on HUF.
- The sharp positive rebound in HUF following the ‘slight improvements’ in the Russia/Ukraine conflict last week has eased the pressure on Hungary policymakers.
- EURHUF has been testing its key support at 370 in the past two days after reaching an all-time high at 400 on March 7.
- A Break below that level would open the door for a move down to 367.60.
- Next key level to watch on the downside stands at 364.30 (100DMA).
- Even though inflation remains NBH biggest ‘enemy’, hiking too aggressively also increases recession risks.
Source: Bloomberg/MNI
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.
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