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April Wages Expected To Grow By Over 10% YoY

HUNGARY
  • This week, the labor market will be in focus, with the May unemployment rate coming out on June 29 (expected to decline slightly) and April wage growth coming out on June 30, which could grow by over 10% YoY due to the base effect.
  • Business sentiment is also expected to continue to improve with June manufacturing PMI expected to increase to 55 (from 52.85 the previous month).
  • USDHUF ticks lower this morning after finding resistance at the 295 level last week; ST support to watch on the downside stands at 292.30 (50D SMA), followed by 290.
  • Hungary 10Y yield has been retracing higher in the past few days, currently trading slightly below its 50D SMA (2.85%). ST key resistance to watch on the topside stands at 3%; on the downside, first support to watch below 2.80% stands at 2.72% (100D SMA).

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