The Hungarian forint strengthened versus the US dollar across the previous week. The US dollar forint exchange rate finished the week 0.6% lower at 298.28. The Hungarian forint clawed back some of the 2.5% decline experienced since the beginning of December. The dollar is advancing versus the forint as the new week begins<\/p>\n
The mood towards the US dollar fluctuated across the previous week. The dollar was weaker at the start of last week as news of a phase one US \u2014 China trade deal dampened demand for the safe haven US dollar. Later in the week, solid economic data, combined with growing uncertainties over the signing of the US \u2014 China trade deal boosted the buck.<\/p>\n
US GDP, PCE inflation and consumer confidence all beat analysts\u2019 forecasts. The strong data boosted expectations that the Federal Reserve would not continue its rate cutting cycle in 2020. As a result, the dollar advanced.<\/p>\n
This coming week there is still a good amount of US macro data for investors to weigh up. However, given the low trading volumes, the reaction from the market could be subdued. US new home sales is due to be released today, whilst durable goods orders will be released tomorrow. This is expected to be the most closely watched data release of the week.<\/p>\n
US \u2014 China trade headlines will also be in the spotlight as the new week kicks off. China said over the weekend that it will cut import tariffs on goods including pork, paper products and some high-tech components as from 1st<\/sup> January, according to the Finance Ministry. The news has had little impact on the greenback at the time of writing. However, could drag the safe haven southwards<\/p>\n The forint strengthened versus the dollar across the previous week. However, the pair was unable to advance against the dollar on Friday, as it announced a current account deficit of \u20ac230 million in the third quarter according to data released by the National Bank of Hungary on Friday. The trade balance showed a \u20ac1.1 billion deficit in traded goods, whilst service sector showed a \u20ac2.4 billion surplus of trade services.<\/p>\n There is no high impacting Hungarian data across this week, investors will need to wait until early January for further clues over the health of the Hungarian economy.<\/p>\n <\/p>\n <\/p>\n The Hungarian forint strengthened versus the US dollar across the previous week. The US dollar forint exchange rate finished the week 0.6% lower at 298.28. The Hungarian forint clawed back some of the 2.5% decline experienced since the beginning of December. The dollar is advancing versus the forint as the new week begins The mood […]<\/p>\n","protected":false},"author":163946597,"featured_media":5507,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1922,1381],"tags":[1399,2016,1870,1438,1690,1927,1965,1921,1479,1400,1397],"class_list":{"0":"post-84029","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-huf","8":"category-usd","9":"tag-china","10":"tag-deficit","11":"tag-exchange-rates","12":"tag-federal-reserve","13":"tag-forex","14":"tag-huf","15":"tag-huf-vs-usd","16":"tag-hungarian-forint","17":"tag-trade-talks","18":"tag-trump","19":"tag-us-dollar"},"acf":[],"yoast_head":"\nHungary\u2019s \u20ac230 Million Trade Deficit<\/strong><\/h3>\n
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