HUNGARY: Bubor Rates
| Bubor rate (%) | (1D change) | |
| O/N | 10.28 | (0 bps) |
| 1M | 11.04 | (-1 bps) |
| 3M | 12.03 | (-2 bps) |
| 6M | 12.68 | (-2 bps) |
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
EURUSD TECHS: Resumes Its Primary Downtrend
- RES 4: 1.0787 High May 30 and a reversal trigger
- RES 3: 1.0612/0774 50-day EMA / High Jun 9
- RES 2: 1.0583/1.0615 Channel top from Feb 10 high / High Jun 27
- RES 1: 1.0449/0522 Intraday low / 20-day EMA
- PRICE: 1.0314 @ 09:57 BST Jul 5
- SUP 1: 1.0298 0.764 projection of the Jun 9 - 15 - 27 price swing
- SUP 2: 1.0233 1.382 proj of Feb 10 - Mar 7 - 31 Price swing
- SUP 3: 1.0200 1.00 projection of the Jun 9 - 15 - 27 price swing
- SUP 4: 1.0044 Bear channel base drawn from the Feb 10 high
EURUSD is trading lower today and in the process has breached support at 1.0359, Jun 15 low, and 1.0350, the May 13 low. The break lower confirms a resumption of the primary downtrend and, an extension lower within the bear channel drawn from the Feb 10 high. This signals scope for 1.0233 next, a Fibonacci projection. On the upside, initial firm resistance is seen at 1.0522, the 20-day EMA.
SPAIN T-BILL AUCTION RESULTS: 6/12-month letras
| Type | 6-month letras | 12-month letras |
| Maturity | Jan 13, 2023 | Jul 7, 2023 |
| Amount | E1.149bln | E4.185bln |
| Target | E4.5-5.5bln | Shared |
| Previous | E873mln | E4.055bln |
| Avg yield | 0.117% | 0.687% |
| Previous | -0.078% | 0.479% |
| Bid-to-cover | 2.77x | 1.86x |
| Previous | 2.73x | 1.32x |
| Previous date | Jun 07, 2022 | Jun 07, 2022 |
UK: PM Under Pressure, But Tough To See Leadership Contest Before Autumn
Prime Minister Boris Johnson has come under further pressure this morning following comments from former Foreign Office senior civil servant Lord McDonald that Johnson knew about allegations made against former deputy chief whip Chris Pincher MP, despite the gov't stating that Johnson was not aware of any specific allegations.
- Today's events have resulted in another flurry of speculation on the PM's future. The 1922 Committee of backbench Conservative MPs holds elections for its vacant positions on 13 July, with the House of Commons breaking for summer recess one week later.
- Should an anti-Johnson majority be formed on the 1922, they could amend party rules to allow for another confidence vote in Johnson's leadership. However, this could prove difficult to organise in the short timeframe (no leadership contest can take place while parliament is in recess).
- There remains the House of Commons Privileges Committee's report into COVID rule-breaking at Downing St during the pandemic, and rebels are seen as likely to wait until its publication later in the autumn before challenging Johnson.
- Betting markets remain in a state of uncertainty over the PM's future. This year is seen as the narrow favourite for Johnson's exit, with an implied probability of 37.9% according to Smarkets. Next year has an implied probability of 28.6%, while 2024 or later sits on 34.3%.
Source: Smarkets
