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USDCAD TECHS

Needle Still Points South

US TSYS

Yields Bounce as Equities Make New Monthly Highs

AUDUSD TECHS

Heading North

EURJPY TECHS

Bull Rally Accelerates

COLOMBIA

Economists Survey Raises 2021 CPI Forecast To 4.9%

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  • The HUF keeps weakening against major crosses ahead of NBH policy meeting next week (Sep 21).
  • USDHUF has been trending higher in the past two days, breaking above its 200DMA (297.60) and 50DMA (299.50) and currently testing its 300 resistance. A break above that level would open the door for a move up to 303.70.
  • 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) but the uncertainty over the economic recovery remains high.
  • The HUF weakness has also been weighing on Hungarian equities in the past few days, with the BUX index consolidating from an all-time high of 51,121 to 52,082.