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Hungary 10Y Yield Is Flat Following June CPI Print

HUNGARY
  • Last week was marked by another positive surprise in inflation in Hungary with CPI rising by 5.3% YoY in June (vs. 4.9% exp.) and up from 5.1% the previous month.
  • This new print confirms that NBH will continue its tightening cycle and gradually rise its benchmark rate to curb inflationary pressures.
  • There are no important economic data to watch this week.
  • USDHUF ticks higher this morning after receiving support slightly above its 200DMA at 298.70; resistance to watch on the topside stands at 302.50, followed by 304.20. On the downside, first support to watch below 298.70 stands at 297.80.
  • Hungary 10Y yield has been flat in the past few days, currently trading slightly above its 2.80% support; next level to watch on the downside stands at 2.77% (100DMA). On the topside, first resistance stands at 2.88%, followed by key level at 3%.

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