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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
- Global liquidity and recent HUF strength pushed Hungary equities to a new record high, with BUX Index breaking above its 46,476 resistance this week and is gradually approaching the 48,000 resistance.
- As for Poland, we saw that the rise in inflationary pressures in the CEE region in the past two months has led to an increase in disagreements between NBH policymakers over the trajectory of rates in the coming months; the hawkish comment from deputy governor Virag led to a strong momentum on HUF in May, with the currency appreciating by 5.5% against the US Dollar (ZAR and HUF were the best performers in the CEEMEA FX market in May).
- USDHUF has been retracing higher in the past few days after finding a local low at 282.80 on Tuesday; resistances to watch on the topside stand at 290 and 296 (50D SMA). On the downside, first support to watch stands at 280.
- The 10Y yield has been retracing lower in the past two days after rejecting its 3% resistance on Wednesday; support to watch on the downside stands at 2.80% (50D SMA).
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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