Forex: EUR/HUF in fresh highs above 305.00

The Hungarian forint is resuming its depreciation against the shared currency on Thursday, hovering over session highs in the area of 305.40/50 despite the industrial production in Hungary contracted 1.4% YoY in January, improving from December’s decline of 7.1%.

As of writing, the cross is up 0.24% at 305.38 facing the next hurdle at 307.67 (high Jun.1 2012) ahead of 313.48 (high Jan.13 2012) and then 316.10 (high Jan.9 2012).
On the other hand, a breach of 303.40 (Upper Bollinger) would clear the way to 298.35 (MA14d) and then 294.10 (low Mar.1).

Mar 14, 2013

Forex Flash: RBA rate cut by 25bp within 6 months still viable – TD Securities

Investors got very much surprised with February labor force report pointing to 71.5K added jobs and a higher participation rate. leaving the unemployment rate unchanged at 5.4%. “An unusual report like this one needs to be treated with caution. AUD OIS has almost completely given up pricing another -25bp cut within the next six months. However given our view that Q1 CPI will be rather soft, with underlying inflation hugging the bottom half of the RBA’s target band, we recommend fading this move”, wrote TD Securities analyst Alvin Pontoh.

Forex Flash: Gunshot wound for AUD bears - Societe Generale

Kit Juckes, Global Head of Currency Strategy at Societe Generale notes that overnight the RNBZ kept rates on hold while Australian employment figures improved.