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CHINA PBOC CONDUCTS CNY58.2 BILLION VIA 7-DAY REVERSE REPOS MON

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EU Sanctions Must Not Impinge Russia’s Nuclear Sector, Szijjarto Says

HUNGARY
  • Decisive action is needed to ensure that EU sanctions do not impinge on Russia's nuclear sector, foreign minister Szijjarto said, MTI report, adding that sanctions of this type would harm Hungary's national interests as well as global nuclear security. Hungary remain committed to their plan to expand the Paks nuclear facility with two Russian-made VVER reactors, and as such have opposed including nuclear power in any EU sanctions packages.
  • Average gross wages rose by an annual 18.1% in December (Est: +17.0%) versus +16.8% in November, data released this morning showed.
  • Technical trend conditions in EURHUF remain bearish following yesterday’s 0.50% move lower. 377.15, the Feb 14 low, marks immediate resistance. Below here, 370.55 marks the 76.4% Fibonacci retracement for the 2022 upleg. Initial resistance is at the 50-day EMA that intersects at 391.98, a clear break of which is required to signal scope for a stronger recovery.
  • Prime Minister Orban’s ruling Fidesz party will hold the second day of its summit discussing the legislative agenda for spring. There are no more scheduled speaker or data events planned for the rest of the day.
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