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ASIA

Coming up in the Asia-Pac session on Wednesday:

USDCAD TECHS

Corrective Pullback

US TSYS

Risk-On Carries On

US EURODLR OPTIONS

Late Trade, March Calls

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  • Earlier this morning, the NBH decided to raise the 1W deposit rate to 2.9% (vs. 2.6% exp), up from 2.50% the previous week.
  • Interestingly, the decision, which usually comes out at 10.50am (London time) every Thursday, came in earlier at 8.34am.
  • The 1W deposit rate now stands 80bps over the policy rate (2.1%).
  • The market reacted positively to that announcement, with the HUF appreciating against all the major crosses.
  • EURHUF is currently trading at the low of its 3-day range, currently testing the 326 support; next level to watch on the downside stands at 324, followed by 320.
  • Hungary 10Y yield consolidates sharply lower in today's trading session, approaching the 4.25% level; next support to watch below that stands at 4.12%.