The Hungarian forint was firming during the
whole Tuesday’s session as the emerging
markets sentiment was improving. Also
parliament’s approval of tax changes on
Monday and inflation consistent with
consensus helped to improve investors’
perception of Hungary.
The forint rose 0,8% on the day against Euro
and reached its best level over two and half
weeks – 276.15. At the end of the session
the forint reversed some of its gains but
ended relatively strong at 277,0 EUR/HUF.
Today the domestic economic calendar is
blank and there are no major trading
impetuses neither on global markets thus we
expect the forint to remain relatively stable
above resistance level 276 EUR/HUF.
(CSOB - Investment research)