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Free AccessUnemployment Rate Fell To 3.9% In May
- This morning, economic data showed that the unemployment rate fell to 3.9% in May, down from 4.4% the previous month. April wage growth will come out tomorrow (June 30) and could grow by over 10% YoY due to the base effect. PPI inflation will also come out on June 30.
- Business sentiment is expected to continue to improve with June manufacturing PMI expected to increase to 55 (from 52.85 the previous month).
- USDHUF ticks higher this morning and is currently testing its 295 resistance; next level to watch on the topside stands at 297.50, followed by 299.20 (200DMA). On the downside, ST support to watch stands at 292.15 (50D SMA), followed by 290.
- Hungary 10Y yield has been retracing higher in the past few days, currently trading slightly below its 50D SMA (2.85%). ST key resistance to watch on the topside stands at 3%; on the downside, first support to watch below 2.80% stands at 2.73% (100D SMA).
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.