Canada, British Columbia Launch $5 Billion Infrastructure Partnership to Boost Housing, Transit, and Healthcare 
Russian Stocks End Flat as MOEX Index Hits New 52-Week Low 
Canada Imposes 10% Tariff on Canned Vegetable Imports to Protect Domestic Industry 
Asian Stocks Rally as Japan and South Korea Reach Record Highs on US-Iran Peace Deal 
Oil Prices Drop as U.S.-Iran Talks Ease Supply Concerns 
Trump Says No Hormuz Strait Tolls During 60-Day Iran Ceasefire 
Yen Near 40-Year Lows Despite BOJ Rate Hike, Markets Brace for Possible Intervention 
Japan Inflation Stays Below BOJ Target Despite Rate Hike and Rising Energy Cost Risks 
China Keeps Loan Prime Rates Unchanged for 13th Straight Month as Policymakers Prioritize Credit Demand Recovery 
BOJ Signals More Rate Hikes as Inflation Risks Rise Amid Energy Price Pressures 
Trump Questions USMCA Renewal as Trade Talks Continue 
The EUR/HUF currency pair is expected to touch 315.00 by the end of this year. Inflation pressures are still weak around CEE as they are elsewhere in euro zone. This will likely keep MNB's language dovish for a while longer, which will exert mild upward pressure on EUR/HUF through the year, especially as the ECB announce tapering.
CPI inflation for March turned out to be softer than expected at headline level, with prices remaining flat month-on-month vs. market expectation of 0.3 percent rise. The year-on-year inflation rate fell to 2.7 percent y/y from 2.9 percent in February, undershooting expectations for a rise to 3.1 percent.
EUR/HUF traded higher at nearly 312.00 yesterday as the data supported MNB's ultra-dovish stance. It is worth noting that lower energy prices and base effect from tax changes impacted the data. However, MNB's underlying inflation measures continued to inch up as they had done in recent months
