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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
- The strong bounce on the US Dollar yesterday has been significantly weighing on the forint, with EURHUF breaking back above the 400 level this morning.
- We previously saw that HUF has been extremely sensitive to the rise in risk aversion (i.e. USD strength) in the past 18 months.
- The chart below shows the strong co-movement between EURHUF and DXY index since the start of 2021.
- Next ST resistance to watch on the topside stands at 404.60.
- Hungary’s outlook was revised to negative by S&P as external risks, reduced gas flows and delays in EU funds could continue to weigh significantly on the economic activity.
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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