- Analytics
- News and Tools
- Market News
- EUR/HUF is drifting back up towards the key 400.00 mark – Commerzbank
EUR/HUF is drifting back up towards the key 400.00 mark – Commerzbank
The HUF rally of the past month appears to be fading already. What went wrong? There could be a minor technical factor, and a more significant fundamental one, Tatha Ghose, FX Analyst at Commerzbank, reports.
Dire situation surrounding EU funds
“The technical factor could be the issue of $4.25bn of USD bonds last week, which produced a surge in FX inflow, which could have helped HUF performance. Perhaps in a low liquidity situation, the flow made a positive (technical) impact for a few days, which is now reversing.”
“Hungarian Finance Ministry’s Tibor Toth clarified that the government may be able to unfreeze some of its EU funds by H2 2023. However, it was difficult to know whether this was a realistic prospect or not – the Finance Ministry’s clarification probably implies that the necessary reforms are not in place yet, hence the guidance timeframe shifts back to later in H2 2023.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
