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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
- EURHUF continues to trend higher this morning, currently trading above the 410 level; ST resistance to watch on the topside stands at 414.70, followed by 417.69 (138.2% Fibo projection). On the downside, support to watch below 410 stands at 406.50.
- The NBH is expected to keep its 1W depo rate unchanged this morning at 9.75% following the sharp 200bps hike last week.
- Yesterday, Hungary declared an “energy state of emergency” as Prime Minister Viktor Orban scrambled to follow European Union peers in preparing for a potential cut in gas flows from Russia (BBG).
- As part of a seven-point action plan. Hungary will boost the annual production of nat gas and will also ban energy exports.
- As a reminder, Hungary gets 65% of its oil and 85% of its gas from Russia.
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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