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Hungary Holds Talks With Ukraine Over Grain Transport

HUNGARY
  • EURHUF begins the session on the front foot after partially retracing some of Wednesdays 2% rally yesterday. Price action sees the forint second to only the Polish zloty as the poorest performing CEEMEA currency so far today. The 20-day EMA at 377.28 has been pierced, opening the 50-day EMA, which intersects today at 381.77, as the next resistance level to watch.
  • MTI report that Hungary is proposing progressive subsidies for the transport of Ukrainian grain in the EU to ensure that it reaches its traditional markets rather than getting stranded in central and eastern Europe and distorting the markets there, Agriculture Minister Istvan Nagy said after talks with Ukraine's Minister for Agrarian Policy and Food.
  • Hungary and Serbia are preparing to build a new crude oil pipeline to strengthen the security of supply, the minister of foreign affairs and trade said yesterday. The agreement is expected to be signed in June.
  • There are no major economic releases scheduled today.

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