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Hungarian Forint Rises Against U.S. Dollar After Hungary Rate Hike
(RTTNews) - The Hungarian forint advanced against the U.S. dollar in the European session on Tuesday, as Hungary's central bank lifted its benchmark rate at a sharper-than-expected pace.
The Monetary Council, led by Governor Gyorgy Matolcsy, hiked the base rate by 125 basis points to 13.00 percent from 11.25 percent.
The overnight deposit rate was increased by 125 basis points to 12.50 percent and both the overnight and one-week collateralised lending rates were raised by 125 basis points to 15.50 percent.
The Hungarian forint edged up to 419.72 against the greenback from Monday's close of 424.75. The Hungarian forint is seen finding resistance around the 404.00 level.
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Hungarian Forint Drops Against U.S. Dollar After Rate Cut
The Hungarian forint weakened against the U.S. dollar on Tuesday, as the National Bank of Hungary reduced the base rate by 100 basis points, as expected.
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European Shares Seen Opening Up In Cautious Trade
European stocks are likely to open on a steady note Monday after U.S. stocks posted their longest advance in three months on Friday amid signs of easing trade tensions and bets the Federal Reserve will cut interest rates as early as June, as the American economy softens.
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Sensex, Nifty Follow Global Peers Higher
Indian shares were trading higher on Monday, tracking firm cues from global markets.
The benchmark S&P/BSE was up 548 points, or 0.7 percent, at 79,760 despite rising tensions between India and Pakistan, triggered by the Pahalgam terror attack.
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Australian Market Trims Early Gains In Mid-market
The Australian stock market is trimming its early gains in mid-market trading on Monday, adding to the gains in the previous two sessions, following the broadly positive cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is moving well above the 8,000.00 mark, with gains technology, energy and financial stocks partially offset by weakness in mining stocks.
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Asian Markets Track Wall Street Higher
Asian stock markets are trading mostly higher on Monday, following the broadly positive cues from Wall Street on Friday, on easing global trade tensions amid ongoing tariff talks between the US and some of its partner countries, including China and Japan. There are also hopes for additional stimulus measures in China aimed at offsetting the impact of US tariffs.
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Sensex, Nifty May See Volatility As Tensions At Borders Escalate
Indian shares look set to open on a positive note Monday, though volatility is not ruled out as investors react to escalating tensions with Pakistan over Pahalgam attack.
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Thai Stock Market May See Additional Support On Monday
The Thai stock market bounced higher again on Friday, one day after ending the two-day winning streak in which it had gained almost 20 points or 1.8 percent. The Stock Exchange of Thailand now sits just beneath the 1,160-point plateau and it's expected to extend open in the green again on Monday.
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Japanese Market Significantly Higher
The Japanese stock market is trading significantly higher on Monday, extending the gains in the previous three sessions, following the broadly positive cues from Wall Street on Friday, with the Nikkei 225 moving above the 35,900 level, with gains across most sectors led by automakers and financial stocks. Technology stocks are the only weak spot amid profit booking.
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