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EU Recovery Fund Deal Possible By End 2022

HUNGARY
  • *HUNGARY SEES EU RECOVERY FUND DEAL POSSIBLE BY END-2022: 444.HU (BBG)
  • The political divergence between Hungary and the EU has been delaying the EU pandemic funds; as a reminder, Hungary is due to receive 7.2bn EUR in grants under EU’s recovery funds, which is worth around 5% of the country’s GDP.
  • EURHUF continues it 'bear' consolidation, gradually approaching its ST support at 380. Next level to watch on the downside stands at 376.30 (50DMA).

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