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Yuan Shuts Its Eyes To PBOC Fix


TUZ1 Given


ANZ Hikes Mortgage & Depo Rates


Futures Tight In the Tokyo Morning

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  • PM Orban said earlier in a state radio interview that the EU membership is important for Hungary for market access. We have seen that the disagreements between Hungary and Brussels have been rising following a series of legal dispute in the past few months.
  • As a reminder, Hungary is still waiting for Brussels to approve the 7.2bn EUR in grants under the recovery fund.
  • Sell-side is split between 15bps and 30bps hike for the September 21 meeting as inflationary pressures remain firm in the CEE region (CPI inflation accelerated to 4.9% YoY in August).
  • USDHUF ticks higher this morning after breaking above its 200DMA yesterday (297.60); next resistance to watch on the topside stands at 299.40 (50DMA). On the downside, first support to watch stands at 295.70, followed by 292.
  • Hungary 10Y yield has been oscillating at around 3.07% in the past few days; resistance to watch on the topside stands at 3.09%, followed by key level at 3.22%. On the downside, first support stands at 3%, followed by 2.88% (50D/100DMA).