Further gains across CEE FX albeit at a slower pace – ING
|CEE FX showed a strong rally last week. Economists at ING expect the same story this week.
Global conditions boost the region
The region should still benefit today from EUR/USD's move higher late last week.
Sentiment remains open to risk and the renewed fall in gas prices to the lowest levels since early June is playing into the hands of the HUF in particular. The calendar in the region has little to offer and so the main focus will be on the global story.
Overall, we expect further gains across the region albeit at a slower pace. The Hungarian Forint remains our favourite in the CEE region. We expect the Forint to strengthen further below 373 EUR/HUF. However, we also expect further gains from the Polish Zloty and Czech Koruna with moves below EUR/PLN 4.40 and EUR 23.70/CZK.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.