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Orban Wins Fourth Consecutive Term as PM

HUNGARY
  • PM Orban won a fourth term in Hungary’s general elections, with his Fidesz party gathering over 53% of the votes (while the opposition alliance was far behind with 35%).
  • While Poland has been calling for tougher sanctions against Russia, Hungary has kept its distance from the Ukraine war, and responded to Ukraine President Zelensky following the elections’ results calling him an ‘opponent’.
  • EURHUF ticks higher this morning after finding support at its 50DMA at 366.40 earlier. Key ST resistance to watch on the topside stands at 370, followed by 375.10. On the downside, support to watch below 366.40 stands at 365.50 (100DMA).
  • Hungary 10Y yield has settled around 6% in the past few days after finding retracing sharply lower last week. ST support to watch on the downside stands at 5.75%. on the topside, key resistance stands at 6.50%.

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