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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
- As expected, NBH left its base rate and deposit rate unchanged today at 0.6% and -0.05%, respectively.
- On March 25, the NBH will hold a separate meeting for the decision on its 1W deposit rate, expected to remain unchanged at 0.75%.
- However, some sell-side banks are expecting the NBH to increase its 1W depo rate in Q2 if the HUF weakness persists in the coming weeks, especially against the Euro. Market is currently watching the important resistance of 370 on EURHUF.
- Hungary 10Y yield keeps retracing lower, falling (again) below its ST support at 2.70%, which represents its 50% Fibo retracement of the 1.47% - 3.9% range. Next support on the downside stands at 2.59%, followed by 2.53%. On the topside, first resistance stands at 2.80%, followed by 2.84%.
Source: Bloomberg/MNI
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
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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