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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 situation has been relatively quiet in Hungary in recent weeks, with most of the practitioners focused on the inflation narrative, the HUF dynamics and the implied volatility in the bond market.
- In May, we saw that the rise in inflationary pressures in the CEE region has led to an increase in disagreements between policymakers over the trajectory of rates in the coming months; the hawkish comment from deputy governor Virag led to a strong momentum on HUF in May, with the currency appreciating by nearly 5% against the US Dollar.
- The 10Y yield has been trending higher in the past week after finding a local low at 2.84% last Wednesday, currently testing its 3% resistance; key level to watch on the topside stands at 3.22%.
- USDHUF has been consolidating lower in the past week after the pair find a local high of 287.50 last week; the pair is currently testing a key support at 283 (LT downward trending support line). Next supports to watch on the downside stands at 280, followed by 274. On the topside, first resistance stands at 290, followed by 295.
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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