The Hungarian forint hovered around 280.6
EUR/HUF during the whole of Friday’s
session. After the morning gains, the forint
retreated as the fragile mood persisted due
to uncertain interest rate prospects (the
release of NBH minutes indicated that there
will most likely be an interest rate hike but it
did not suggest the size of it) and the forint
failed to benefit from weak U.S. payroll
figures.
Today the economic calendar is blank thus
external factors will continue to be decisive.
We suggest the forint to remain in a range
280-283 EUR/HUF.
(CSOB - Investment research)