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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
- Selling pressure on HUF has been surging again in the past two days despite NBH efforts to protect the domestic currency.
- In addition, as EU is asking for more concessions for fund access, the delays in EU funds could also continue to weigh on the economy and domestic asset prices in the medium term.
- Today, the NBH will align its 1W and base rates at 9.75% following the aggressive 200bps hike last Thursday to protect the forint.
- As a reminder, today was supposed to be a non-policy meeting.
- EURHUF continues to trend higher this morning, currently trading slightly above the 410 level.
- ST resistance to watch on the topside stands at 415.60.
- On the downside, support to watch stands at 404.20.
Source: Bloomberg
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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