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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
- We have seen this week that the global risk off environment pushed the HUF to an all-time low against the Euro and the USD, with EURHUF breaking above the psychological 400 level in the past two days before edging lower this morning.
- HUF remains the most ‘undervalued’ currency among the G10/CEE world, with the NEER HUF (broad index) trading nearly 25% below its LT average (see chart below).
- Even though the sharp HUF depreciation keeps de-anchoring inflation expectations, sell-side analysts still expect the NBH to keep its 1W depo rate steady at 6.75% on Thursday (June 16) as hiking rate further will likely not support the forint in this environment.
- The NBH will publish the minutes of its May meeting today (2pm CET).
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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