Main ING EMEA FX Forecasts
| EUR/CZK | EUR/PLN | EUR/HUF | ||||
| 1M | 25.29 | ↑ | 4.25 | ↓ | 390 | ↓ |
| 3M | 25.25 | ↓ | 4.25 | ↓ | 395 | ↓ |
| 6M | 25.20 | ↓ | 4.27 | ↓ | 390 | ↓ |
| 12M | 25.08 | ↓ | 4.32 | ↓ | 405 | ↓ |
EUR/PLN: Hoping for PLN recovery before election
| One month bias | 1M | 3M | 6M | 12M | |
|---|---|---|---|---|---|
| Mildly Bearish | 4.25 | 4.25 | 4.27 | 4.32 |
Source: Refinitiv, ING forecasts
EUR/HUF: Forint stability remains NBH policy focus
| One month bias | 1M | 3M | 6M | 12M | |
|---|---|---|---|---|---|
| Mildly Bearish | 390.00 | 395.00 | 390.00 | 405.00 |
Source: Refinitiv, ING forecasts
EUR/CZK: Market doesn’t fully accept CNB’s view
| One month bias | 1M | 3M | 6M | 12M | |
|---|---|---|---|---|---|
| Neutral | 25.30 | 25.20 | 25.20 | 25.10 |
Source: Refinitiv, ING forecasts
EUR/RON: 4.98 remains the end of the range
| One month bias | 1M | 3M | 6M | 12M | |
|---|---|---|---|---|---|
| Neutral | 4.98 | 4.98 | 4.98 | 5.04 |
Source: Refinitiv, ING forecasts
EUR/RSD: Tightly managed floating
| One month bias | 1M | 3M | 6M | 12M | |
|---|---|---|---|---|---|
| Neutral | 117.11 | 117.10 | 117.07 | 117.05 |
Source: Refinitiv, ING forecasts
USD/UAH: UAH gains likely over, medium term risks remain
| One month bias | 1M | 3M | 6M | 12M | |
|---|---|---|---|---|---|
| Neutral | 41.00 | 41.00 | 41.50 | 42.00 |
Source: Refinitiv, ING forecasts
USD/KZT: In search of temporary support
| One month bias | 1M | 3M | 6M | 12M | |
|---|---|---|---|---|---|
| Neutral | 475.00 | 480.00 | 480.00 | 485.00 |
Source: Refinitiv, ING forecasts
USD/TRY: Inflation path and CBT policy in focus
| One month bias | 1M | 3M | 6M | 12M | |
|---|---|---|---|---|---|
| Neutral | 34.10 | 35.60 | 38.50 | 42.10 |
Source: Refinitiv, ING forecasts
USD/ZAR: Underweight positions in South Africa help
| One month bias | 1M | 3M | 6M | 12M | |
|---|---|---|---|---|---|
| Mildly Bearish | 18.00 | 17.50 | 17.50 | 17.50 |
Source: Refinitiv, ING forecasts
USD/ILS: Risk premium to stay in the shekel
| One month bias | 1M | 3M | 6M | 12M | |
|---|---|---|---|---|---|
| Mildly Bullish | 3.80 | 3.75 | 3.70 | 3.50 |
Source: Refinitiv, ING forecasts
