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Orban Holds Lead Into Final Week Ahead of Polling

HUNGARY
  • Orban's party continues to hold a solid lead headed into the final week of campaigning ahead of Sunday's general election. Political analysts still eye decent support for Orban's opposition, with Jelen writing over the weekend that the 'undecided' bloc will be key to determining winning - which currently poll at around 18% of the electorate.
  • Hungarian average gross wages surged in January, but still came up just shy of expectations: +13.7% vs. Exp. +13.8% (Prev. +9.7%). The rise in minimum wage and a larger public sector pay packets drove the gains, with real wage growth now at 5.4%.
  • EURHUF is in consolidation mode but still trading closer to its recent lows. Initial support lies at last week’s 369.39 low (Mar 17). Attention is also on support at 368.51, the 50-day EMA. Trend signals still highlight an uptrend, however a clear break of this average would signal scope for a deeper pullback. This would open 362.10, the Jan 24 high. Resistance is seen at 383.17, Mar 14 high. A break would be seen as a short-term bullish development.
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