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HUNGARY: EURHUF Tests Weekly Lows Ahead of US CPI

HUNGARY
  • The Central Statistical Office confirmed in a second reading of the data that Hungary's industrial sector fell by an annual 8.2% in June. Industrial exports contracted by 8.1% y/y while domestic output fell by 5.1% y/y. Output fell in most manufacturing sector branches.
  • EUR/HUF briefly tested weekly lows at 392.80 at the start of the session, and trades around 0.1% in the red at typing. The cross remains below support at 393.53, a sustained break of which bolster a bearish theme.
  • There are no local data releases scheduled for today or for the remainder of the week. US CPI data at 13:30BST/14:30CET is the sole focus across markets.

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