Forex News
Silver prices (XAG/USD) rose on Friday, according to FXStreet data. Silver trades at $60.40 per troy ounce, up 2.06% from the $59.19 it cost on Thursday.
Silver prices have decreased by 15.02% since the beginning of the year.
Unit measure | Silver Price Today in USD |
|---|---|
Troy Ounce | 60.40 |
1 Gram | 1.94 |
The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, stood at 69.36 on Friday, down from 69.83 on Thursday.
Silver FAQs
Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets.
Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold's. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices.
Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices.
Silver prices tend to follow Gold's moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver.
(An automation tool was used in creating this post.)
Tatha Ghose at Commerzbank describes NBP Governor Glapinski’s latest press conference as a net dovish surprise versus expectations for a clearer hike signal. Although he outlined conditions for tightening and dropped guidance of unchanged rates until mid-2027, he does not expect those conditions to be met by November. The Zloty weakened versus the Hungarian Forint as markets had been pricing a November hike baseline.
NBP signals conditional hikes, dampens November expectations
"Further to our last comment, in which we suggested that NBP governor Adam Glapinski might officially signal at this week’s press conference that rate hikes were on the cards, by contrast yesterday’s press conference produced a ‘net’ dovish surprise."
"Glapinski mentioned that NBP was ready to act if 1) second-round effects were to emerge or 2) November’s projections were to reveal a strong inflationary scenario."
"He also declined to repeat his September guidance that rates would probably remain unchanged until mid-2027, confirming that his stance had, indeed, changed to more hawkish."
"The crucial qualification was that Glapinski does not expect the conditions for a hike to be in place by November already."
"The zloty weakened against peers such as the Hungarian forint after the statements. This reaction was justified because the market’s baseline was fast becoming one of confirmed November rate hike."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
- The Indian Rupee rebounds against the US Dollar as US bond yields cool down.
- US President Trump pushes back fears of military aggression against Iran before Midterm elections.
- Investors shift their focus to the India’s CPI data.
The Indian Rupee (INR) trades slightly higher against the US Dollar (USD) on Friday. The USD/INR pair corrects to near 96.55, but is still close to its all-time high of 97.00. The Indian currency gets a much-needed reprieve from a corrective move in United States (US) Treasury Yields.
At press time, 10-year US Treasury Yields are down 0.23% to near 5.22%. Yields on US-backed securities started correcting after failing to extend the rally above the two-decade-high at 5.36%.
Theoretically, the scenario of a pause in US bond yields improves the appeal of riskier assets, such as the Indian Rupee, unless the broader trend resumes.
Meanwhile, the Reserve Bank of India (RBI) is also expected to have intervened at the open. According to a Reuters report, the Indian central bank likely sold US Dollars to support rupee near record-low levels.
What led to sharp correction in US Treasury Yields?
US bond Yields came under pressure on Thursday after oil prices cut some advance, following remarks from President Donald Trump pointing to optimism on US-Iran diplomacy.
We [US] will not be attacking Iran at any time prior to the Midterm Elections to be held in the United States on November 3rd,” US President Trump said through a post on Truth Social, adding, “We are having productive discussions with the Islamic Republic of Iran.”
Is rally in US bond yields over?
A pause in the ongoing rally in US bond Yields has brought some relief for risk-sensitive assets. However, the broader trend in the US Treasury Yields will likely last long, as significant investment from hyperscalers remain intact and the Federal Reserve is highly anticipated to deliver more interest rate hikes in the near term.
Analysts at Danske Bank said in a note this week that US bond yields are in a longer-term uptrend not only because of the supply of Treasuries, but also from higher bond issuance by hyperscalers. Against this setting, the bank cautions that “we do see the risk of 10Y and 30Y Treasuries hitting 6% as investors demand a higher premium for the long end,” underscoring concerns that term premia may need to rise further to clear upcoming issuance.
On the domestic front, the RBI hiked its key policy rate by 25 basis points (bps) this week, and changed its monetary policy stance from “neutral” to “calibrated tightening”, signaling that rate cuts are off the table in the near term. Meanwhile, investors await India’s Consumer Price Index (CPI) data for September, which will be released on Monday.
What to expect from India’s CPI report?
According to Societe Generale, India’s inflation backdrop is set to deteriorate markedly in September 2026, with the bank projecting that “headline CPI inflation [will] rise sharply to 5.6% yoy, from 4.8% in August, led by food inflation which likely rose to around 7.5% yoy.” Societe Generale adds that the move is not confined to volatile components, noting that “we also expect core CPI inflation to approach 4.5% yoy, indicating that underlying price pressures are strengthening despite relatively subdued mass-market demand.”
Technical Analysis: USD/INR stays firmly above 20-day EMA
In the daily chart, USD/INR trades at 96.55, maintaining a bullish near-term bias as spot holds above the 20-day exponential moving average (EMA) at 96.12.
The positioning over this short-term trend gauge suggests underlying demand remains in place, while the Relative Strength Index (14) at 65.14 stays in positive territory but shy of overbought, hinting that bullish momentum is constructive yet not extreme.
On the downside, immediate support is seen at the 20-day EMA at 96.12, where a daily close below would signal fading upside pressure and expose a deeper corrective phase. On the upside, the all-time high near 97.00 would remain the major barrier.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
ING’s Francesco Pesole expects Canada’s September jobs report to show a modest payroll rebound and slightly higher unemployment, not enough to justify an October Bank of Canada hike. He notes that a December move is fully priced, while USD/CAD remains dominated by the Dollar, with a sustained move below 1.420 seen as requiring better global bond conditions.
Limited CAD support from labour data
"Today, the Canadian jobs report for September is expected to show a partial rebound. Consensus sees payrolls at +10k after August’s 42k contraction, and unemployment ticking higher to 6.5%."
"The figures shouldn’t scream ‘October hike’, but can definitely consolidate expectations for a move by the Bank of Canada in December, which is fully priced in."
"The impact on the Canadian dollar shouldn’t be big. CAD has lost around 3% in the past month against USD, but is still in the upper half of the G10 scorecard. US-Canada tensions have been put on the back burner by FX investors, and the USD remains totally dominant in USD/CAD."
"Improvement in global bond markets remains necessary for the pair to return sustainably below 1.420. The prospect of a Bank of Canada hike can lend some help only on the margin."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
- Euro recovers further to near 1.1235 against the US Dollar amid a pullback in French bond yields.
- The US Dollar corrects as US Treasury Yields cool down after a strong rally.
- Investors shift their focus to the US CPI data for September.
The Euro (EUR) extends Thursday’s recovery move against the US Dollar (USD) on Friday. In the European trade, the EUR/USD pair is up 0.2% higher to near 1.1235. The Euro rebounds as yields offered on France bonds have corrected sharply.
10-year French bonds yields have overall corrected almost 3.4% or 17 basis points (bps) to 4.8% from its Thursday’s high.
The Euro had been an underperformer in the past few weeks due to widening difference between yields offered on French bonds compared to the rest of Eurozone. However, market experts believe that French fiscal risks are intact and the recovery move could prove to be short-lived.
Euro Price This week
The table below shows the percentage change of Euro (EUR) against listed major currencies this week. Euro was the weakest against the Australian Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.36% | 0.02% | 0.19% | -0.21% | -0.37% | 0.11% | 0.31% | |
| EUR | -0.36% | -0.34% | -0.09% | -0.55% | -0.73% | -0.26% | -0.02% | |
| GBP | -0.02% | 0.34% | 0.25% | -0.20% | -0.39% | 0.09% | 0.30% | |
| JPY | -0.19% | 0.09% | -0.25% | -0.39% | -0.47% | -0.04% | 0.14% | |
| CAD | 0.21% | 0.55% | 0.20% | 0.39% | -0.11% | 0.23% | 0.51% | |
| AUD | 0.37% | 0.73% | 0.39% | 0.47% | 0.11% | 0.49% | 0.69% | |
| NZD | -0.11% | 0.26% | -0.09% | 0.04% | -0.23% | -0.49% | 0.20% | |
| CHF | -0.31% | 0.02% | -0.30% | -0.14% | -0.51% | -0.69% | -0.20% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).
Euro sentiment stays fragile as French risks linger
Analysts at ING caution that the recent reprieve for the Euro may prove short-lived, as France’s political and fiscal backdrop continues to weigh on sentiment. They argue that “we don’t feel Marine Le Pen’s huge fiscal tightening promise is enough to turn the tide for French bonds,” adding that “the euro may keep suffering from the French situation for longer” as markets remain wary of lingering fiscal and bond-market risks.
Meanwhile, the correction in the US Dollar due to a pullback in US Treasury Yields has also lend support to the EUR/USD pair. As of writing, the US Dollar Index (DXY), which gauges the Greenback’s value against six major currencies, trades marginally lower to near 102.00. The DXY fell on Thursday after failing to extend the rally above the yearly high at 102.54.
Going forward, investors will focus on the US Consumer Price Index (CPI) data for September, which will be published on Wednesday.
EUR/USD Technical Analysis
In the daily chart, EUR/USD trades at 1.1221, keeping a clear bearish tone as spot remains under the 20-period exponential moving average (EMA), which stands at 1.1344 and acts as immediate overhead resistance. The distance between price and the EMA suggests the pair is entrenched in a short-term downtrend, while the Relative Strength Index (RSI) around 27 hints at oversold conditions that could slow aggressive selling without yet implying a bullish reversal.
On the topside, initial resistance is located at the 20-day EMA at 1.1344, and a daily close above this barrier would be needed to ease bearish pressure and open the way for a corrective recovery. On the downside, with no nearby technical supports from the provided dataset, the pair remains vulnerable to further declines, and traders will likely look to price action and any emerging higher lows to identify a provisional floor if selling resumes.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Euro FAQs
The Euro is the currency for the 20 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day. EUR/USD is the most heavily traded currency pair in the world, accounting for an estimated 30% off all transactions, followed by EUR/JPY (4%), EUR/GBP (3%) and EUR/AUD (2%).
The European Central Bank (ECB) in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy. The ECB’s primary mandate is to maintain price stability, which means either controlling inflation or stimulating growth. Its primary tool is the raising or lowering of interest rates. Relatively high interest rates – or the expectation of higher rates – will usually benefit the Euro and vice versa. The ECB Governing Council makes monetary policy decisions at meetings held eight times a year. Decisions are made by heads of the Eurozone national banks and six permanent members, including the President of the ECB, Christine Lagarde.
Eurozone inflation data, measured by the Harmonized Index of Consumer Prices (HICP), is an important econometric for the Euro. If inflation rises more than expected, especially if above the ECB’s 2% target, it obliges the ECB to raise interest rates to bring it back under control. Relatively high interest rates compared to its counterparts will usually benefit the Euro, as it makes the region more attractive as a place for global investors to park their money.
Data releases gauge the health of the economy and can impact on the Euro. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the single currency. A strong economy is good for the Euro. Not only does it attract more foreign investment but it may encourage the ECB to put up interest rates, which will directly strengthen the Euro. Otherwise, if economic data is weak, the Euro is likely to fall. Economic data for the four largest economies in the euro area (Germany, France, Italy and Spain) are especially significant, as they account for 75% of the Eurozone’s economy.
Another significant data release for the Euro is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period. If a country produces highly sought after exports then its currency will gain in value purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann observe that GBP/USD has held modest gains around 1.3230, but recent guidance from the Bank of England on higher-for-longer rates has not translated into a clear bullish trend. The pair is expected to trade within 1.3215–1.3260 intraday, while over the next 1–3 weeks Sterling could edge lower inside a broader 1.3140–1.3280 band.
Sterling bias tilts slightly to downside
"24-HOUR VIEW: We expected GBP to edge lower yesterday, but we indicated that it “is likely to stay within a 1.3180/1.3235 range.” GBP subsequently dipped to 1.3185, briefly rose to touch 1.3249 before closing modestly higher at 1.3230 (+0.13%). The current price movements are likely part of a range-trading phase. Today, we expect GBP to trade between 1.3215 and 1.3260."
"1-3 WEEKS VIEW: After our previous view for GBP to edge higher was invalidated, we highlighted yesterday (08 Oct, spot at 1.3215) that “there has been a slight increase in downward momentum, but it is insufficient to indicate a sustained decline.” We also indicated that GBP “could edge lower, but any decline is likely to be part of a lower range of 1.3140/1.3280.” Our view remains unchanged"
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
- WTI attracts fresh sellers as Trump rules out attacks on Iran before midterm elections.
- Middle East conflicts and Hormuz risks could limit deeper losses for the black liquid.
- The technical setup warrants caution for bulls or positioning for any meaningful gains.
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – attracts some follow-through selling on Friday, extending the previous day's pullback from a one-week high, around the $92.40 region. The black liquid sticks to modest intraday losses through the first half of the European session and currently trades just above mid-$89.00s, down over 1.0% for the day.
The optimism led by President Donald Trump's comments, saying that the US would refrain from resuming military strikes on Iran before the November 3 midterm elections, exerted some pressure on crude oil prices. However, the geopolitical risk premium remains in play amid the US-Iran standoff over Tehran's nuclear program and escalating Middle East conflicts. Adding to this, disruptions around the Strait of Hormuz could act as a tailwind for the commodity.
From a technical perspective, crude oil prices hold below the 100-period Simple Moving Average (SMA) on the 4-hour chart and the 38.2% Fibonacci retracement of the August-September upswing, keeping the near-term tone capped. Meanwhile, the Moving Average Convergence Divergence (MACD) sits marginally above zero with a contracting profile. Moreover, the Relative Strength Index (RSI) near 49 stays neutral, suggesting fading bullish momentum.
In the meantime, any subsequent slide could find initial support near the 50.0% Fibo. retracement at $87.72, ahead of deeper structural floors at $84.35 (61.8% retracement) and $79.56. On the topside, a break above the $91.08 Fibonacci barrier would expose the clustered resistance formed by the 100-period SMA around $91.18, with a further move targeting the 23.6% retracement at $95.24 if buyers regain control.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
WTI 4-hour chart
WTI Oil FAQs
WTI Oil is a type of Crude Oil sold on international markets. The WTI stands for West Texas Intermediate, one of three major types including Brent and Dubai Crude. WTI is also referred to as “light” and “sweet” because of its relatively low gravity and sulfur content respectively. It is considered a high quality Oil that is easily refined. It is sourced in the United States and distributed via the Cushing hub, which is considered “The Pipeline Crossroads of the World”. It is a benchmark for the Oil market and WTI price is frequently quoted in the media.
Like all assets, supply and demand are the key drivers of WTI Oil price. As such, global growth can be a driver of increased demand and vice versa for weak global growth. Political instability, wars, and sanctions can disrupt supply and impact prices. The decisions of OPEC, a group of major Oil-producing countries, is another key driver of price. The value of the US Dollar influences the price of WTI Crude Oil, since Oil is predominantly traded in US Dollars, thus a weaker US Dollar can make Oil more affordable and vice versa.
The weekly Oil inventory reports published by the American Petroleum Institute (API) and the Energy Information Agency (EIA) impact the price of WTI Oil. Changes in inventories reflect fluctuating supply and demand. If the data shows a drop in inventories it can indicate increased demand, pushing up Oil price. Higher inventories can reflect increased supply, pushing down prices. API’s report is published every Tuesday and EIA’s the day after. Their results are usually similar, falling within 1% of each other 75% of the time. The EIA data is considered more reliable, since it is a government agency.
OPEC (Organization of the Petroleum Exporting Countries) is a group of 12 Oil-producing nations who collectively decide production quotas for member countries at twice-yearly meetings. Their decisions often impact WTI Oil prices. When OPEC decides to lower quotas, it can tighten supply, pushing up Oil prices. When OPEC increases production, it has the opposite effect. OPEC+ refers to an expanded group that includes ten extra non-OPEC members, the most notable of which is Russia.
- USD/CHF retreats to 0.8300 from 0.8345 highs on Thursday but remains on track for a seven-week rally.
- The US Dollar loses ground against its most peers as US Treasury yields pull back from multi-decade highs.
- Thursday's lower high and RSI divergence are giving bears some hope.
The US Dollar (USD) extends losses for the second consecutive day against the Swiss Franc (CHF) on Friday as some easing on the global bond rout has triggered a mild risk appetite, sending the US Dollar lower across the board. The USD/CHF pair is testing support at the 0.8300 area after a knee-jerk reaction at 0.8345 on Thursday, although it remains on track to complete a seven-week rally.
An auction for US 30-year Treasury bonds was received with strong demand on Thursday, which eased concerns about the bond crisis and triggered a moderate pullback in global yields. In this context, the safe-haven US Dollar has lost ground against its most peers, providing some support for the Swiss Franc and most of the G8 currencies, in an otherwise calm trading session.
Technical Analysis: Thursday's lower high gives hope for bears
USD/CHF trades at 0.8304, after a rejection at 0.8345 on Thursday, posting a lower high, which suggests that bulls are starting to lose steam. The 4-hour Relative Strength Index (14), around 44, is showing a bearish divergence, while the Moving Average Convergence Divergence (MACD) has turned negative, altogether hinting at a deeper bearish correction.
Bears need to break support at the 0.8300 area (October 6 low) and the 38.2% Fibonacci retracement of September's rally, at 0.8264, to cement hopes of a trend shift and bring the October 2 and September 22 lows, at 0.8227 and 0.8183 respectively, into target.
To the upside, a bullish reaction above the mentioned Thursday's high at 0,8345 negates this view and shifts the focus back to the October 1 high, at the 0.8380 area.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
US Dollar Price Today
The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Japanese Yen.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.09% | -0.08% | 0.24% | 0.01% | -0.29% | -0.14% | -0.11% | |
| EUR | 0.09% | 0.02% | 0.34% | 0.10% | -0.20% | -0.03% | -0.03% | |
| GBP | 0.08% | -0.02% | 0.34% | 0.12% | -0.20% | 0.00% | 0.02% | |
| JPY | -0.24% | -0.34% | -0.34% | -0.22% | -0.54% | -0.37% | -0.33% | |
| CAD | -0.01% | -0.10% | -0.12% | 0.22% | -0.34% | -0.16% | -0.10% | |
| AUD | 0.29% | 0.20% | 0.20% | 0.54% | 0.34% | 0.17% | 0.24% | |
| NZD | 0.14% | 0.03% | 0.00% | 0.37% | 0.16% | -0.17% | 0.06% | |
| CHF | 0.11% | 0.03% | -0.02% | 0.33% | 0.10% | -0.24% | -0.06% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
Danske Bank strategist view the September European Central Bank (ECB) minutes as dovish relative to market pricing, arguing that they do not support the three additional rate hikes currently priced in. They note that limited second-round effects from the energy shock and higher long-term yields could reduce the need for further ECB tightening. Meanwhile, US labour market data continues to signal resilience, while Fed officials remain flexible on the timing of additional rate hikes.
ECB minutes seen dovish versus pricing
"In the euro area, the September ECB minutes offered little forward guidance, but we view them as dovish relative to market pricing. The policy discussion appeared broadly neutral and, in our view does not support the three additional hikes priced in."
"Members noted no signs of second-round effects from the energy shock and only limited indirect effects, while stressing that higher long-term rates could materially weigh on growth and inflation. As a result, the sharp rise in longer-term yields should limit the need for further ECB tightening."
"In the US, continued claims increased more than expected to 1.716m in the week ending 26 September, up from 1.699m previously. However, the increase does not change the broader picture, as continued claims remain low compared with recent years. Initial jobless claims fell slightly, against expectations of a small increase, although the previous week was revised higher. Overall, the data still points to a relatively tight labour market."
"On the wires in the US, Fed's Waller said further rate hikes are needed but stressed flexibility on the pace, adding that hikes do not need to come at consecutive meetings. While this is somewhat more explicit on the need for additional tightening than comments from Jefferson and Williams last week, it remains consistent with the message that there is no urgency to hike again at the October meeting."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
Commerzbank’s Tatha Ghose reviews the IMF’s Article IV assessment on Hungary, stressing that euro adoption cannot substitute for structural and fiscal reforms. The IMF calls for front‑loaded consolidation and phasing out distortive policies, while welcoming MNB’s pause in rate cuts and new 2.5% inflation target. Ghose argues only combined fiscal, structural and hawkish monetary policy can sustainably strengthen the Forint.
Reform demands and Forint outlook
"IMF’s just published Article IV assessment on Hungary was informative on various topics, in particular the needs for deeper reforms and fiscal consolidation (IMF estimates fiscal deficit at 7-7.5% of GDP this year). The assessment also provided a reality check on Hungary’s push to announce a timetable for euro adoption."
"Under unchanged policies, the deficit would remain above the Maastricht threshold through the medium term, while public debt would continue rising."
"IMF calls for credible, growth-friendly and front-loaded fiscal consolidation, combining lower subsidies and administrative spending with tax reform."
"Monetary policy is equally important. IMF welcomes MNB’s decision to pause rate cuts and notes that the new 2.5% inflation target from January 2028 necessitates a more hawkish stance."
"But IMF’s point is straightforward: the euro can provide an anchor for reform, but is no substitute for the reforms themselves; in other words, euro adoption can be adopted as a medium-term prospect, not a near-term solution to Hungary’s economic or FX problems."
"This will not suffice to boost HUF valuation sustainably though: only fiscal and structural reform combined with an appropriately hawkish monetary policy (month-on-month inflation is sharply accelerating) would generate forint strength."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
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