HUNGARY: Gov May Delay Controversial Bill Targeting Some NGOs and Media Groups
Jun-04 11:19
- "HUNGARY MAY DELAY ADOPTION OF BILL TARGETING NGOS AND MEDIA" - BBG
- "HUNGARY RULING PARTY'S KOCSIS COMMENTS ON SOVEREIGNTY BILL"
As a reminder, thousands of Hungarians demonstrated in mid-May after Prime Minister Viktor Orban’s ruling party introduced a bill to cut funding to civil society and media that receive money from abroad and which are deemed a threat to Hungary’s sovereignty. The government argued these measures are necessary to defend against "foreign interference".
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Historical bullets
USD: The Dollar is still pushing lower
May-05 11:17
- Further intraday lows for the Dollar, nothing fast, 1 pip at a time, but it has been a one way move so far during the early European session and into the US one.
- EUR, GBP, NOK, AUD, JPY, PLN, ZAR, and CAD are all at session high, and this is more of a pure FX move, given the lack of moves in Equities or eve Bonds (Yield).
- AUD is still the best performer and is still eyeing a test to the 0.6500 handle.
EQUITIES: EU Bank put fly
May-05 11:01
SX7E (19th Sep) 160/155/150p fly, bought for 0.20 in 6k.
OUTLOOK: Price Signal Summary - Bear Threat In Oil Futures Still Present
May-05 11:00
- On the commodity front, Gold is trading higher today. Recent weakness appears to have been a correction. The yellow metal breached the 20-day EMA. A continuation lower would highlight a deeper retracement and open the 50-day EMA, at 3115.11 - a key support. The primary trend direction remains up. A resumption of gains would refocus attention on $3500.1, the Apr 22 high and bull trigger. Clearance of this level resumes the uptrend.
- In the oil space, a medium-term bearish trend in WTI futures remains intact and last week’s sell-off reinforces this theme. The move down signals the end of the correction between Apr 9 - 23. The correction allowed an oversold trend condition to unwind. Attention is on $54.67, the Apr 9 low and a bear trigger. Clearance of this level would resume the downtrend and open $53.72, a 2.236 projection of the Feb 20 - Mar 5 - Apr 2 price swing. Resistance to watch is $64.61, the 50-day EMA. Initial resistance is $61.94, the 20-day EMA.
