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Final 4Q GDP Unchanged Q/Q, Matching Preliminary Reading

HUNGARY
  • The statistics office confirmed that GDP growth was flat in Q4 both year-on-year and quarter-on-quarter, matching the preliminary readings.
  • EURHUF has started the session slightly on the back foot, down 0.1% at typing, though the cross had reached a high of 396.20 overnight. Note that price remains above key resistance levels at 394.67/394.65, the early August/late September highs, bolstering bullish conditions and signaling scope for an extension towards the 400.00 handle.
  • The following data is on the docket later in the week:
    • 06/03: Industrial production (Est: -3.5% y/y; Prior: -8.7%)
    • 06/03: Retail sales (Est: +0.6% y/y; Prior: -0.2%)
    • 06/03: Trade balance (Prior -EUR271m)
    • 08/03: CPI (Est: +3.9% y/y; Prior: +3.8%)

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