Hledat v komentářích
Investiční doporučení
Výsledky společností - ČR
Výsledky společností - Svět
IPO, M&A
Týdenní přehledy
 

Detail - články
The Hungarian forint is back in an easing
mode and yesterday’s price action clearly
confirmed that the currency’s recovery was
just short-lived

The Hungarian forint is back in an easing mode and yesterday’s price action clearly confirmed that the currency’s recovery was just short-lived

5.4.2006 10:08
Autor: 

The Hungarian forint is back in an easing mode and yesterday’s price action clearly confirmed that the currency’s recovery was just short-lived. The change of the positive trend, which had been seen in previous sessions, was triggered by market concerns that the MinFin’s target of the March public budget would be overshot by HUF 90 bn as repeatedly reported local press. However, the bearish market move was extended by rising bond yields in the euro-zone in the afternoon. An anecdotal evidence of deterioration of the market sentiment in highyielding markets was then another drop of the Icelandic crown, which once again lost ground in the evening (CET). Thus, looking at the intra-day trading: the forint appeared under pressure right after the opening as the EUR/HUF pair fell from the starting level of 262.95 to the 264 zone. The pair then moved sideways while in the afternoon and during the off-shore trading it moved further north. This morning, EUR/HUF has been already trading in the 266 area.

The forint appears in very danger situation as the vulnerable currency is facing several immediate risks: potentially hawkish ECB press conference (Thursday), an unpredictable outcome of the first round of elections (Sunday) and release of the March budget figures (Monday). Given these risks the (very) short-term outlook for the forint is clearly negative. Technically speaking it means that EUR/HUF can test its 25-months high (268.0) soon.

(CSOB - Investment research)

Váš názor
Na tomto místě můžete zahájit diskusi. Zatím nebyl zadán žádný názor. Do diskuse mohou přispívat pouze přihlášení uživatelé (Přihlásit). Pokud nemáte účet, na který byste se mohli přihlásit, registrujte se zde.
Aktuální komentáře

Související komentáře
Nejčtenější zprávy dne
    Nejčtenější zprávy týdne
    Nejdiskutovanější zprávy týdne
    Denní kalendář hlavních událostí
    Nebyla nalezena žádná data