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Local Media Eyes EUR 1.5bln Chinese Investment

HUNGARY
  • June unemployment rate data came in alongside expectations; unchanged at 3.8%.
  • Local media continues to focus on the “biggest investment of the year” with Chinese company Sunwoda building its first European plant in Nyíregyháza, eastern Hungary, with an investment of around HUF 580bln, creating thousands of new jobs.
  • Orban may speak on state radio later today, but little else on the docket to finish the week. EUR/HUF remains inside yesterday’s range, but is higher for a fourth consecutive session. The 200-dma marks resistance above at 386.80, while the Tuesday low of 376.78 is first support.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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