日本語
Español
中文
- New York 08:18
- London 13:18
- Barcelona 14:18
- Tokyo 22:18
- Sydney 00:18
Update on FX trading recommendations
6
0
Buy EUR/HUF
Thu, May 14 2009, 06:43 GMT
by Lars Rasmussen
We recommend buying EUR/HUF. The overall risk sentiment is weak following the weak retail sales data out of US yesterday – see EMEA daily. We therefore look for upside risk on EUR/HUF in the coming days.
HUF – Highly sensitive towards changes in risk appetite
The Hungarian forint (HUF) is highly sensitive towards declining global risk appetite. Yesterday the forint significantly underperformed its peers as it dropped more than 2% against the euro as risk appetite faded.
The forint has had a very good run since the beginning of March where it set new lows against the euro (around EUR/HUF 317). Given the worsening of risk sentiment in the last two days, we think markets are likely to test the forint once again sending EUR/HUF back above 300.
The technical picture supports this view – see Danske Technical Update. EUR/HUF broke through several key resistance levels this morning.
Risk factors:
A key risk to the present recommendation would be if the risk sentiment improves, which would send global equity markets higher and most likely EUR/HUF lower.
Published on Thu, May 14 2009, 06:46 GMT
Archive
- Lift stops on EUR/HUF and USD/ZAR
Published On Thu, Oct 29 2009, 12:29 GMT - Buy EUR/HUF and buy USD/ZAR
Published On Tue, Oct 27 2009, 11:14 GMT - We recommend hedging RUB exposure
Published On Thu, Jun 4 2009, 09:32 GMT - Buy EUR/HUF
Published On Thu, May 14 2009, 06:43 GMT - Stop taken in short EUR/CHF - raise stop in long GBP/CAD
Published On Fri, Nov 21 2008, 10:02 GMT
Danske Bank
| Holmens Kanal 2-12, DK-1092 Copenhagen
http://www.danskebank.com/ | danskeresearch@danskebank.com
Legal disclaimer and risk disclosure
This publication has been prepared by Danske Bank for information purposes only. It is not an offer or solicitation of any offer to purchase or sell any financial instrument. Whilst reasonable care has been taken to ensure that its contents are not untrue or misleading, no representation is made as to its accuracy or completeness and no liability is accepted for any loss arising from reliance on it. Danske Bank, its affiliates or staff, may perform services for, solicit business from, hold long or short positions in, or otherwise be interested in the investments (including derivatives), of any issuer mentioned herein. Danske Bank's research analysts are not permitted to invest in securities under coverage in their research sector. This publication is not intended for private customers in the UK or any person in the US. Danske Bank A/S is regulated by the FSA for the conduct of designated investment business in the UK and is a member of the London Stock Exchange. Copyright () Danske Bank A/S. All rights reserved. This publication is protected by copyright and may not be reproduced in whole or in part without permission.Related reports
Forex Market Alerts - Poland, Hungary FX Flows - Looking for direction but slightly nervous by FXMarketAlerts
Mon, Nov 2 2009, 08:44 GMT
EMEA Daily - A further rise in unemployment is expected by Danske Bank A/S
Thu, Oct 29 2009, 06:14 GMT
Currency Currents by Black Swan Capital
Tue, Oct 27 2009, 13:37 GMT
Update on FX trading recommendations - Buy EUR/HUF and buy USD/ZAR by Danske Bank A/S
Tue, Oct 27 2009, 11:14 GMT
Central European Weekly - Surprisingly strong industrial output helps the zloty by KBC Bank
Mon, Oct 26 2009, 13:41 GMT
Related content
DATA SNAP: Hungary Jul-Sep Jobless Rate Higher Than Expected
Dow Jones | Thu, Oct 29 2009, 08:00 GMT
Hungary MOF Defends 2011, 2012 Budget Gap Targets
Dow Jones | Tue, Oct 27 2009, 09:50 GMT
Hungary Seen At Risk Of Missing 2011, 2012 Budget Gap Goals
Dow Jones | Mon, Oct 26 2009, 15:05 GMT
EU Begins Investing $500 Million In Infrastructure Stimulus
Dow Jones | Wed, Oct 21 2009, 13:50 GMT
UPDATE: Hungary Ctrl Bk Cuts Base Rate To 7.0% From 7.5%
Dow Jones | Mon, Oct 19 2009, 13:13 GMT
Interested in forex trading? forex brokerage firms!
GET CASH BACK FOR YOUR TRADES! Learn more about the Pip Rebate Program
Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.
Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
©2009 "FXstreet.com. The Forex Market" All Rights Reserved.