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Cabinet Discusses Ukraine and Problems Caused by Sanctions

  • EURHUF starts the session close to flat with today’s price action so far contained within yesterday’s ranges. Previously noted technical levels remain in play with the 20- and 50-day EMAs marking the important support levels to watch. Topside resistance is seen at 394.67, the Aug 3 high. Clearance of this level would resume the uptrend.
  • Prime Minister Orban held a cabinet meeting, the PM's press chief said as reported by MTI. Ministers reviewed issues related to the war in Ukraine, the prospects for creating peace as soon as possible, as well as problems caused by Brussels' war-related sanctions.
  • There is little else in the way of domestic news flow. The data docket is also empty for the remainder of the week.

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