HUNGARY: Nagy Says Hungary Becoming the Focus for International Investors
Feb-12 08:10
- Citing Bloomberg data which shows that Hungary stands out in terms of investment from US-listed ETFs, Economy Minister Marton Nagy said in a post on Facebook that Hungary is increasingly becoming the focus of international investors. The Minister attributes this to the investor-friendly tax policy as well as the lowest corporate tax rate in Europe (9%).
- Prime Minister Viktor Orban set to become the first European leader to officially welcome an AfD leader when Alice Weidel arrives in Budapest today. A press conference following their meeting is scheduled for later this morning.
- There are no major data releases scheduled for today or for the remainder of the week. Minutes from the NBH’s MPC meeting last month will be released at 13:00GMT/14:00CET. See our review of that meeting here.
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EURJPY TECHS: Trades Through Support
Jan-13 08:04
- RES 4: 164.90 THigh Dec 30 and a key short-term resistance
- RES 3: 164.55 High Jan 7
- RES 2: 163.43 High Jan 9
- RES 1: 162.55 20-day EMA
- PRICE: 160.89 @ 08:03 GMT Jan 13
- SUP 1: 160.65 Intraday low
- SUP 2: 160.54 50.0% retracement of the Dec 3 - 30 bull cycle
- SUP 3: 159.51 61.8% retracement of the Dec 3 - 30 bull cycle
- SUP 4: 158.67 Low Dec 11
The recent move down in EURJPY appears corrective, however the cross is again trading lower, today, and this has resulted in a breach of initial support at 160.91, the Jan 2 low. The next support to watch is 160.54, 50.0% of the Dec 3 - 30 bull cycle. The 61.8% level is at 159.51. A reversal higher would signal the end of the corrective cycle and refocus attention on 164.90, the Dec 30 high.
GILTS: Opening calls
Jan-13 07:58
Gilt calls, 89.26/89.30.
EQUITIES: EU Cash opening calls
Jan-13 07:57
- Estox 50: -0.43%, Dax: -0.14%, CAC: -0.45%, FTSE -0.00%, SMI -0.12%.
VGH5 (Estoxx) has been falling in the past hour and hovers at session low.
