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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
- EURHUF has been retracing higher this week after finding support slightly below the 395 level on Monday.
- The 100bps hike from the NBH on Tuesday has not been enough to support the forint; even though the HUF appears currently extremely ‘cheap’ relative to its fundamental value, it is still driven by external factors such as geopolitical uncertainty and risk aversion.
- This morning, the NBH is likely to readjust its 1W depo rate by 100bps following Virag’s comments at his press conference on Tuesday.
- ST support to watch on the downside stands at 400, followed by 398.10 (50DMA).
- On the topside, resistance to watch stands at 407.
- Unemployment rate is likely to remain steady at 3.5% in June.
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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