A lighter calendar awaits us this week in the Central and Eastern Europe region. According to ING economistsa lighter calendar means stronger currencies.
EUR/HUF could test levels below 394
“Given the lack of regional momentum, Central and Eastern European currencies will be driven mainly by the global situation. Overall, we expect the rise in EUR/USD and good sentiment in Europe to keep the CEE supported. In addition, prices Gas prices are testing lower levels again, which could be positive for the Czech crown and the Hungarian forint.”
“The forint should continue to benefit from lower-than-expected inflation and could test levels below 394 EUR/HUF this week. On the other hand, we believe that the CZK has the strongest long position in the region at the moment and that it will be difficult for it to go higher, so we expect levels around 24.00 EUR/CZK for this week.”
“The Polish Zloty, which has lagged the region so far, should also see slightly stronger levels and could benefit from regional optimism and move a bit lower to 4.68.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
