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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.
CEE
- Economic data showed earlier that inflation in Romania decelerated to 14.96% in July (vs. 14.63% expected), down from 15.05% the previous month.
- Even though inflation came in higher than expected, we have seen that an increasing number of analysts are now expecting inflation to peak this summer and to start gradually decelerating in the coming months.
- Last week, we saw that Romania central bank (RCB) eased down the pace of its tightening cycle and delivered a 75bps hike, levitating the policy rate to 5.5% (vs. 5.75% exp.)
- It was the eighth time that RCB is hiking rates, its policy rate is now up 425bps since its low reached in 2021.
- The ease in risk aversion has been supporting the RON in recent weeks, with USDRON breaking below its 50DMA yesterday.
- Next support to watch on the downside stands at 4.6950.
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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