The Hungarian forint yesterday had a quite
calm session without any important news
and the unit in thin trade gradually firmed
throughout the session. However the
currency got behind the barrier EUR/HUF
257.0 only shortly and ended the session at
EUR/HUF 257.20.
Today the forint will be again influenced
mainly by regional development. In the
morning the October’s PPI will be released,
though the impact of these data on the
Hungarian currency is usually negligible. We
believe that the regional sentiment will be
positive due to the rise in stock prices in
global markets and also the release of
Polish GDP might add to the favourable
perception of the region. Nevertheless
given current strong values of the forint
we believe that potential forint gains will
be limited.
EUR/HUF testing recent lows. HUF profits
from double top formation, but first target
reached. Further upside for HUF difficult?
(CSOB - Investment research)