{"id":85032,"date":"2020-01-15T04:28:19","date_gmt":"2020-01-15T09:28:19","guid":{"rendered":"https:\/\/currencylive.com\/?p=85032"},"modified":"2020-01-15T04:28:19","modified_gmt":"2020-01-15T09:28:19","slug":"102071-usd-huf-forint-drops-on-weaker-construction-output","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/102071-usd-huf-forint-drops-on-weaker-construction-output\/","title":{"rendered":"USD\/HUF: Forint Drops On Weaker Construction Output"},"content":{"rendered":"<p>The Hungarian forint strengthened versus the US dollar on Tuesday. The US dollar forint exchange rate declined 0.3% to close at 298.87. The forint is paring those gains in early trade on Wednesday. At the time of writing the pair was trading 0.3% higher at 299.38.<\/p>\n<p>The US dollar traded broadly flat versus its peers, albeit weaker versus the forint in the previous session as investors digested US inflation data and looked ahead cautiously to the signing of the US \u2013 China trade deal.<\/p>\n<p>US inflation increased 2.3% compared to the previous year in December, which was a touch softer than analysts had been expecting. Core inflation, which excludes more volatile items remained steady at 2.3%. However, with wage growth moderating in recent months to 2.9% there is a squeeze on incomes and household spending power. Weaker spending power could curb consumer spending and weigh on GDP growth should the trend continue.<\/p>\n<p>Today investors will be focusing almost solely on the signing of the first phase US \u2013 China trade deal. The White House announcing that it will not reduce tariffs on Chinese imports until after the US elections dented sentiment ahead of the signing.<\/p>\n<p>The details of the deal have not yet been made public. Investors are trading cautiously ahead of their release and will pour over them to asses whether the trade deal goes far enough.<\/p>\n<h3><strong>Strong Inflation, Slowing Construction Output<\/strong><\/h3>\n<p>The forint was on the front foot in the previous session after Hungarian inflation data showed that consumer prices had increased by more than analysts had forecast in December. Inflation increased 4% year on year, up from 3.4% in November and ahead of the 3.9% analysts had pencilled in. Strong inflation often encourages a central bank to raise interest rates to keep inflation under control. However, the National Bank of Hungary have indicated that they intend to keep rates low across for the foreseeable future.<\/p>\n<p>Today the forint is paring yesterday\u2019s gains following weaker than expected construction figures. Construction output increased 6.8% year on year in November. This was significantly below October\u2019s 20.5% increase. Growth in the sector is expected to ease across the coming year, contributing less to economic growth than it did this year.<\/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 strengthened versus the US dollar on Tuesday. The US dollar forint exchange rate declined 0.3% to close at 298.87. The forint is paring those gains in early trade on Wednesday. At the time of writing the pair was trading 0.3% higher at 299.38. The US dollar traded broadly flat versus its peers, [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":4848,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1922,1381],"tags":[2105,2106,1927,1965,1921,1387,2101,1400,1397,1398],"class_list":{"0":"post-85032","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-huf","8":"category-usd","9":"tag-chna","10":"tag-construction-output","11":"tag-huf","12":"tag-huf-vs-usd","13":"tag-hungarian-forint","14":"tag-inflation","15":"tag-trade-deal-signing","16":"tag-trump","17":"tag-us-dollar","18":"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: Forint Drops On Weaker Construction Output - 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\/102071-usd-huf-forint-drops-on-weaker-construction-output\/\" \/>\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\\\/102071-usd-huf-forint-drops-on-weaker-construction-output\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102071-usd-huf-forint-drops-on-weaker-construction-output\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"USD\\\/HUF: Forint Drops On Weaker Construction Output\",\"datePublished\":\"2020-01-15T09:28:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102071-usd-huf-forint-drops-on-weaker-construction-output\\\/\"},\"wordCount\":611,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102071-usd-huf-forint-drops-on-weaker-construction-output\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100628-gbp-usd-us-manufacturing-data.jpg\",\"keywords\":[\"chna\",\"construction output\",\"HUF\",\"huf vs usd\",\"Hungarian Forint\",\"Inflation\",\"trade deal signing\",\"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\\\/102071-usd-huf-forint-drops-on-weaker-construction-output\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102071-usd-huf-forint-drops-on-weaker-construction-output\\\/\",\"name\":\"USD\\\/HUF: Forint Drops On Weaker Construction Output - 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