The Hungarian forint wreaked by 1.6% against the US dollar across the previous week. The US dollar forint exchange rate started the previous week at 295.52 and closed on Friday at 300.37. The pair is Hungarian forint is extending those losses as trading kicks off on Monday.

The dollar gained versus the forint despite a disappointing US jobs report on Friday. The closely watched US non-farm payroll showed that only 144,000 jobs were created in the US in December. This was below to the 166,000 that analysts had forecast. In addition to a disappointing headline figure, wage growth also surprised to the downside increasing just 2.9%, below the 3.1% forecast.

The dollar remained buoyant despite the weaker data because the level of job creation is still more than enough to keep US economic expansion on track. The Federal Reserve are unlikely to move from the paused position on monetary policy following the jobs report.

As the new week begins focus has switch to the signing of the US – China trade deal. The phase one trade deal is due to be signed on 15th January after being agreed in December. Investors are still not aware of the details of the deal so the 86-page document will be scrutinised closely once released. For the time being the prospect of the two powers moving forward to a second stage of negotiations is lifting sentiment towards the greenback.

There is no high impacting US data due to be released today. US inflation will be closely watched when released on Tuesday.

Forint’s Weakness Set Continue In 2020

The Hungarian forint continued to weaken versus the US dollar as analysts predict that the currency will creep back to record lows in 2020. The forint came under pressure in 2019 as global factors such as trade concerns and Brexit uncertainty provided headwinds for the eastern European currency. The forint was the worst performing eastern European currency in 2019 and analysts are expecting to see any reversal this year even if the lobal mood picks up. Interest rates in Hungary are low are the central bank shoes no inclination of trying to normalise policy.

There is nothing on the Hungarian economic calendar today. Inflation data will be under the spotlight tomorrow. is a news site only and not a currency trading platform. is a site operated by TransferWise Inc. (“We”, “Us”), a Delaware Corporation. We do not guarantee that the website will operate in an uninterrupted or error-free manner or is free of viruses or other harmful components. The content on our site is provided for general information only and is not intended as an exhaustive treatment of its subject. We expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of our site, any you may not rely thereon for any purpose. You should consult with qualified professionals or specialists before taking, or refraining from, any action on the basis of the content on our site. Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Some of the content posted on this site has been commissioned by Us, but is the work of independent contractors. These contractors are not employees, workers, agents or partners of TransferWise and they do not hold themselves out as one. The information and content posted by these independent contractors have not been verified or approved by Us. The views expressed by these independent contractors on do not represent our views.