4 Global Market Updates- 20 October, 2022

 

In this article, we have covered the highlights of global market news about the EUR/HUF, GBP/JPY, EUR/USD and USD/INR.

EUR/HUF to fall below 410; EUR/PLN to fall below 4.78 – ING

Because of decreasing gas costs, CEE is still on the rise. ING economists predict that EUR/HUF will drop back to sub-410 levels and EUR/PLN will once again drop below 4.78.

In addition to decreasing gas costs, the area is seeing growing interest rate differentials. After the NBH emergency rate increase on Friday, we reached a new high in Hungary, and in Poland, we reached our highest levels since early September.

If the European Commission accepts the proposed measures, “we anticipate favorable circumstances for CEE to continue to appreciate, supported by further drops in gas price, with EUR/USD above recent lows.”

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