{"id":83854,"date":"2019-12-18T04:20:11","date_gmt":"2019-12-18T09:20:11","guid":{"rendered":"https:\/\/currencylive.com\/?p=83854"},"modified":"2019-12-18T04:20:11","modified_gmt":"2019-12-18T09:20:11","slug":"101808-usd-huf-hungarian-forint-weakens-after-hnb-rate-decision","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/101808-usd-huf-hungarian-forint-weakens-after-hnb-rate-decision\/","title":{"rendered":"USD\/HUF: Hungarian Forint Weakens After HNB Rate Decision"},"content":{"rendered":"<p>The Hungarian forint weakened versus the US dollar on Tuesday. The US dollar Hungarian forint exchange rate closed 0.35% higher at 296.12. The pair is advancing again in early trade on Wednesday.<\/p>\n<p>The US dollar strengthened in the previous session as investors digested stronger than forecast US economic data and as scepticism grew over the US \u2014 China trade agreement. The absence of clarity surrounding the first phase trade deal is starting to unnerve investors. The lack of details on the deal is making it difficult for investors to analyse its scope.<\/p>\n<p>Data was supportive of the dollar in the previous session. US manufacturing production increased by more than expected in November at 1.1% versus 0.7% forecast. This was a significant increase from October\u2019s -0.7% decline. The sector, which accounts for around 11% of the economy, is showing signs of stabilizing after being weakened by the 17-month long US &#8211; China trade dispute.<\/p>\n<p>Today there is no high impacting US data for investors to digest. Attention could swing towards US President Trump\u2019s impeachment trial, but this is unlikely to have a significant impact on the US dollar. In the House, the Democrats are expected to have sufficient votes to impeach Trump. However, the Senate is unlikely to produce the two thirds majority that is required to oust a President.<\/p>\n<h3><strong>Hungarian GDP Forecast Lifted<\/strong><\/h3>\n<p>The Hungarian forint was on the back foot in the previous session. The Hungarian central bank left interest rates on hold, as market participants had widely anticipated. The central bank also maintained its loose monetary policy stance. The HNB said that it saw inflation risks as balanced again as recession fears in the euro zone subside.<\/p>\n<p>The Hungarian National bank also raised its 2020 GDP forecast to 3.7% growth, up from 3.3% previously forecast. Central Europe\u2019s most dovish central bank also said that it would extend its corporate bond buying programme, which is began in July to help local companies get funding.<\/p>\n<p>There is no high impacting Hungarian economic data due for release today. Instead forint investors will look to the eurozone inflation and business sentiment figures.<\/p>\n<hr \/>\n<h6><em>Currencylive.com<\/em><em> is a news site only and not a currency trading platform.<\/em><\/h6>\n<h6><em>Currencylive.com is a site operated by TransferWise Inc. (&#8220;We&#8221;, &#8220;Us&#8221;), 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 currencylive.com do not represent our views.<\/em><\/h6>\n","protected":false},"excerpt":{"rendered":"<p>The Hungarian forint weakened versus the US dollar on Tuesday. The US dollar Hungarian forint exchange rate closed 0.35% higher at 296.12. The pair is advancing again in early trade on Wednesday. The US dollar strengthened in the previous session as investors digested stronger than forecast US economic data and as scepticism grew over the [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":4497,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1922,1381],"tags":[1928,1870,1690,1973,1927,1614,1457,2004,1479,1400,1397,1398],"class_list":{"0":"post-83854","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-huf","8":"category-usd","9":"tag-dollar-vs-hungarian-forint","10":"tag-exchange-rates","11":"tag-forex","12":"tag-forint","13":"tag-huf","14":"tag-interest-rate","15":"tag-manufacturing","16":"tag-national-hungarian-bank","17":"tag-trade-talks","18":"tag-trump","19":"tag-us-dollar","20":"tag-usd"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>USD\/HUF: Hungarian Forint Weakens After HNB Rate Decision - 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