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Virag to Speak at Event with Hungary’s Competition Authority

HUNGARY
  • An uptick is noted in EURHUF, with the cross piercing the 384 handle in recent trade. The forint reversed six consecutive sessions of gains against the euro yesterday following the NBH’s decision to cut the base rate by 75bps – greater than the smaller 50bp move expected as per the median of the Bloomberg survey – and is the worst performing EMEA currency so far today. Initial resistance is marked at 385.10 – the 50-day EMA.
  • Parliament is in session today with Turkish President Erdogan’s decision to advance Sweden’s NATO bid turning the focus to Hungary. However, Turkey’s ratification "changes nothing on our side," Foreign Minister Szijjarto said. "Hungary's parliament is the parliament of a sovereign country, so it will make a sovereign decision on this issue."
  • Central bank Deputy Governor Virag is set to speak at an event hosted jointly with Hungary’s competition authority at 1000BST/1100CET. There are no notable data releases on the docket today.
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