{"id":84717,"date":"2020-01-09T04:00:55","date_gmt":"2020-01-09T09:00:55","guid":{"rendered":"https:\/\/currencylive.com\/?p=84717"},"modified":"2020-01-09T04:00:55","modified_gmt":"2020-01-09T09:00:55","slug":"102008-usd-huf-hungarian-forint-weakens-after-disappointing-industrial-production-data","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/102008-usd-huf-hungarian-forint-weakens-after-disappointing-industrial-production-data\/","title":{"rendered":"USD\/HUF: Hungarian Forint Weakens After Disappointing Industrial Production Data"},"content":{"rendered":"<p>The Hungarian forint weakened for a second straight session versus the US dollar on Wednesday. The US dollar Hungarian forint exchange rate advanced 0.15% to close the session at 297.85. The forint is picking up against the dollar heading into Thursday.<\/p>\n<p>The safe haven US dollar advanced in early trade on Wednesday following Iran\u2019s missile attacks on US military bases in Iraq. However, the dollar pulled back from session highs after President Trump\u2019s press conference. Trump confirmed that here had been no casualties and that damage had been negligible. Trump stated that \u201cIran appears to be stepping down\u201d which he added was a good thing fir all those involved. As risk sentiment improved demand for the dollar declined.<\/p>\n<p>The dollar also found support from fundamental in the previous session. The ADP private payroll report showed that 202,000 new private jobs had been created in December in US. The was significantly ahead of November\u2019s 67,000 and analyst\u2019s expectation of 160,000. The ADP report is strongly correlated to the non-farm payroll report, the most closely watch macroeconomic release of the month. The solid ADP data bodes well for Friday\u2019s non-farm payroll report.<\/p>\n<p>Today investors will continue to monitor the situation in the Middle East. Any sign of another flare up could boost the dollar. Attention will then begin to turn towards Friday\u2019s non-farm payroll release.<\/p>\n<h3><strong>Budget Balance Up Next<\/strong><\/h3>\n<p>The Hungarian forint was on the back foot again on Wednesday after industrial production data disappointed for a second straight month. Hungarian industrial production increased 5.7% year on year, below the 7.8% analysts forecast on a monthly basis production fell by -1% in November following a -0.4% month on month decline in October. Questions are starting to be raised as to whether the recent weaknesses in the sector is a short-term hiccup or the start of a new trend? The weak data dragged on demand for the forint.<\/p>\n<p>This week has been a bust week for economic releases, and they haven\u2019t stopped yet. Hungarian budget balance is due to be released today and the final i=high impact data piece to be released this week.<\/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 for a second straight session versus the US dollar on Wednesday. The US dollar Hungarian forint exchange rate advanced 0.15% to close the session at 297.85. The forint is picking up against the dollar heading into Thursday. The safe haven US dollar advanced in early trade on Wednesday following Iran\u2019s missile [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":5034,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1922,1381],"tags":[2003,1921,1525,1538,2071,2072,1400,1397,1398],"class_list":["post-84717","post","type-post","status-publish","format-standard","has-post-thumbnail","category-huf","category-usd","tag-economic-calendar","tag-hungarian-forint","tag-industrial-production","tag-iran","tag-middle-est","tag-missiles","tag-trump","tag-us-dollar","tag-usd"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>USD\/HUF: Hungarian Forint Weakens After Disappointing Industrial Production Data - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/102008-usd-huf-hungarian-forint-weakens-after-disappointing-industrial-production-data\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Fiona Cincotta\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102008-usd-huf-hungarian-forint-weakens-after-disappointing-industrial-production-data\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102008-usd-huf-hungarian-forint-weakens-after-disappointing-industrial-production-data\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"USD\\\/HUF: Hungarian Forint Weakens After Disappointing Industrial Production Data\",\"datePublished\":\"2020-01-09T09:00:55+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102008-usd-huf-hungarian-forint-weakens-after-disappointing-industrial-production-data\\\/\"},\"wordCount\":608,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102008-usd-huf-hungarian-forint-weakens-after-disappointing-industrial-production-data\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100726-gbp-usd-politics-gdp-pound-down.jpg\",\"keywords\":[\"economic calendar\",\"Hungarian Forint\",\"industrial production\",\"iran\",\"Middle Est\",\"missiles\",\"trump\",\"us dollar\",\"usd\"],\"articleSection\":[\"HUF\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102008-usd-huf-hungarian-forint-weakens-after-disappointing-industrial-production-data\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102008-usd-huf-hungarian-forint-weakens-after-disappointing-industrial-production-data\\\/\",\"name\":\"USD\\\/HUF: Hungarian Forint Weakens After Disappointing Industrial Production Data - 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