HUNGARY: Orban Looks to Seal "Economic Cooperation" Package with Washington
Oct-31 08:31
- In anticipation of his meeting with US President Trump, Orban told state radio Kossuth Radio that Hungary is planning to "wrap up" an economic cooperation package during his visit to Washington next week. He said economic negotiations had been underway for months and contained Hungary's "requests and recommendations" for US inward investment into Hungary. Budapest will also seek exemptions from the latest phase of sanctions on Russian energy.
- On growth, Orban noted that Hungarian GDP growth will not rise until the end of sanctions related to the war in Ukraine. On the Budget, he noted that economic stimulus plans are an "acceptable risk" when it comes to government finances.
- Elsewhere in the interview, Orban continued to signal fresh stimulus plans, again outlining the extra 14th month pension payment - although timing and implementation is yet to be decided.
- PPI data for September came in at -0.4% M/M from -0.8% in August, and +2.4% Y/Y from +2.3% prior.
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MNI: UK SEP FINAL MANUF PMI 46.2 (46.2 FLASH, 47.0 AUG)
Oct-01 08:30
- MNI: UK SEP FINAL MANUF PMI 46.2 (46.2 FLASH, 47.0 AUG)
OPTIONS: Expiries for Oct01 NY cut 1000ET (Source DTCC)
Oct-01 08:29
- EUR/USD: $1.1600-10(E3.3bln), $1.1700-10(E2.2bln), $1.1750-60(E2.1bln), $1.1775(E709mln), $1.1791-05(E1.9bln), $1.1900(E1.3bln), Y147.50($651mln), Y148.65-75($1.0bln)
- USD/JPY: Y146.15($864mln), Y146.40-50($1.7bln)
- EUR/JPY: Y175.00(E802mln)
- EUR/GBP: Gbp0.8780(E599mln)
- AUD/USD: $0.6600-10(A$1.1bln), $0.6700(A$1.6bln)
- USD/CAD: C$1.3900-10($655mln)
- USD/CNY: Cny7.1900($599mln)
EUROPEAN INFLATION: Eurozone headline HICP tracking 2.3%Y/Y with 2-way risks
Oct-01 08:18
- Ahead of this morning's flash Eurozone HICP print, we track the Y/Y print at 2.3%Y/Y with two way risks (this is higher than our estimate yesterday of 2.2-2.3%Y/Y following the 3.05%Y/Y Dutch print which came in higher than consensus).
- We think that a 2.4%Y/Y print would be a bit of a surprise, with most sell side updates sticking to their original forecasts of 2.2-2.3%Y/Y (so either 2.2% or 2.3% would be less of a surprise).
- The median estimate in the Bloomberg survey is 2.2%Y/Y but 20/44 analysts in the survey look for 2.3% (or higher) - although only 3 of these look for 2.4%Y/Y.
- We have so far received data from countries that make up 92.4% of the index.
