The Hungarian forint slightly firmed after
comments of Prime Minister Gyurcsány.
The Prime Minister claimed that he will not
give in to attempts of opposition to
blackmail the government with huge street
protest, which he considers as mean
which cannot be used in democratic
parliamentary politics. But the
nervousness at the market before vote of
confidence caused that the forint gave up
all of its gains during late afternoon and
ended the session basically unchanged at
275,40 EUR/HUF.
It is worth mentioning that the Socialist
parliament group decided unanimously on
its fraction meeting on Tuesday that all
186 socialist members would support
Prime Minister Gyurcsány at the
confidence vote on Friday.
Today the economic calendar is again
empty and the domestic politics will be in
focus. We believe that before Friday’s vote
of confidence will keep investors in waitand-
see stance.
(CSOB - Investment research)