EUR/HUF could reach 300.00 in 12-month – Danske Bank

FXStreet (Edinburgh) - In the view of Thomas Harr, Strategist at Danske Bank, the Hungarian forint is poised to strengthen further within a year’s time.

Key Quotes

“While the low interest rate in Hungary is likely to keep the HUF attractive as a funding currency within the EM carry trade space, we continue to believe that Hungary’s fairly strong external position is likely to be supportive for the HUF in the medium term”.

“We expect EUR/HUF to trade around 310 in the coming one to three months but still look for modest medium-term appreciation against EUR, targeting EUR/HUF at 300 in 12M”.

Oct 26, 2015

China ready to celebrate as renminbi nears SDR basket inclusion - MUFG

Lee Hardman, Currency Analyst at MUFG, notes that the IMF representatives have told China that the renminbi is likely to join their SDR basket according to Chinese officials with knowledge of the matter.

Global markets mood upbeat after ECB and rate cut by PBoC – Rabobank

Piotr Matys, EM FX Strategist at Rabobank, suggests that the global stocks ended last week in a very positive mood after ECB President Draghi boosted expectations for more monetary policy stimulus in the Eurozone and the People’s Bank of China cut interest rates to prevent a sharp slowdown in economic activity.