Free Trial
US 10YR FUTURE TECHS

(M2)‌‌ Trading Below Its Recent Highs

US TSY FUTURES

BLOCK, More 5Y Sales

STIR FUTURES

Fed Hikes Firm A Touch More On Powell

GBPUSD TECHS

Corrective Bounce Extends

PIPELINE

Unexpectedly Large: $6B UNH, $6B Citigroup

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Selling Pressure on HUF Remains High

HUNGARY
  • Yesterday, the NBH decided to leave its 1W depo rate unchanged despite the ‘positive’ surprise in inflation this week and HUF ‘weakness’.
  • As a reminder, inflation accelerated to 9.5% in April (vs. 8.9% exp.), up from 8.5% the previous month and would be 2 to 3ppt higher in the absence of price caps.
  • HUF has been weakening following the decision, with EURHUF surging above the 385 level earlier (highest level since March 9).
    • Next strong resistance to watch on the topside stands at 390.
  • Some European Union nations are saying it may be time to consider delaying a push to ban Russian oil so they can proceed with the rest of a sanctions package if the bloc can’t persuade Hungary to back the embargo (BBG).
125 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.
  • Yesterday, the NBH decided to leave its 1W depo rate unchanged despite the ‘positive’ surprise in inflation this week and HUF ‘weakness’.
  • As a reminder, inflation accelerated to 9.5% in April (vs. 8.9% exp.), up from 8.5% the previous month and would be 2 to 3ppt higher in the absence of price caps.
  • HUF has been weakening following the decision, with EURHUF surging above the 385 level earlier (highest level since March 9).
    • Next strong resistance to watch on the topside stands at 390.
  • Some European Union nations are saying it may be time to consider delaying a push to ban Russian oil so they can proceed with the rest of a sanctions package if the bloc can’t persuade Hungary to back the embargo (BBG).