HUNGARY: Orban Meets Serbian Counterpart, U/E Rate Meets Post-COVID High
Oct-22 07:00
- Much local press attention is on the cancellation of a summit to be held in Budapest between US President Trump and Russian President Putin. While the US have confirmed that the plans have been put on hold, Orban stated late yesterday that preparations are still ongoing.
- GKI economic sentiment data came in higher at -13.5 for October, from -14.8 in September. Both the business and consumer confidence subcomponents showed improvement, but remained in negative territory.
- The unemployment rate rose to 4.5% in September, as expected, matching the highest level post-COVID.
- PM Orban is today meeting with the Serbian President in Hungary. Topics for discussion are expected to include Hungarian-Serbian economic ties as well as energy and supply security.
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GILTS: Opening Calls
Sep-22 06:56
Gilt Calls, 90.61/90.72.
EQUITIES: Cash Opening Calls
Sep-22 06:56
EU Cash Opening calls: Estox 50: +0.08%, Dax: -0.20%, CAC: +0.07%, FTSE +0.11%, SMI +0.09%.
AUDUSD TECHS: Corrective Cycle
Sep-22 06:56
- RES 4: 0.6793 1.500 proj of the Jun 23 - Jul 24 - Aug 21 price swing
- RES 3: 0.6763 1.382 proj of the Jun 23 - Jul 24 - Aug 21 price swing
- RES 2: 0.6726 1.236 proj of the Jun 23 - Jul 24 - Aug 21 price swing
- RES 1: 0.6660/6707 High Sep 18 / 17
- PRICE: 0.6593 @ 20:35 BST Sep 19
- SUP 1: 0.6581/6547 Intraday low / 50-day EMA
- SUP 2: 0.6527 61.8% retracement of the Aug 21 - Sep 17 bull leg
- SUP 3: 0.6463/6415 Low Aug 27 / Low Aug 21 / 22 and a bear trigger
- SUP 4: 0.6373 Low Jun 23
The AUDUSD uptrend remains intact and the current pullback is considered corrective - for now. The recent rally plus the breach of 0.6625, the Jul 24 high and bull trigger, confirms a resumption of the uptrend. The climb opens the 0.6726 next, a Fibonacci projection. MA studies are in a bull-mode position highlighting a dominant uptrend. Key support to watch is 0.6415, the Aug 21 / 22 low. Initial firm support to watch is 0.6547, the 50-day EMA.
