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EU Unlocks EUR10bln of Funding for Hungary

HUNGARY
  • Bloomberg write the funds were released Wednesday after Orban’s government passed laws to strengthen the court’s independence, the European Commission said in a statement on Wednesday.
  • Other conditions Hungary must meet to access the approximately €21 billion that will remain suspended include reducing graft, making public procurement more transparent, protecting LGBTQ rights and academic freedom and softening asylum policy.
  • EURHUF has dipped just beyond the day's earlier lows on the confirmation of the fund disbursement. Key support has been defined at 375.62, the Nov 14 low. A break would resume the downtrend and open 373.98, the 76.4% retracement of the Jun 12 - Aug 3 bull leg.

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