{"id":96970,"date":"2020-03-03T05:00:47","date_gmt":"2020-03-03T10:00:47","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=96970"},"modified":"2020-03-03T08:12:05","modified_gmt":"2020-03-03T13:12:05","slug":"102563-usd-huf-forint-slips-after-jumping-1-3-in-previous-session","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/102563-usd-huf-forint-slips-after-jumping-1-3-in-previous-session\/","title":{"rendered":"USD\/HUF: Hungarian Forint Slips After Jumping 1.3% In Previous Session"},"content":{"rendered":"

The Hungarian forint<\/a> is edging lower versus the US dollar<\/a> in early trade on Wednesday. After rallying 1.3% versus the greenback in the previous session the forint is giving back some of those gains.<\/p>\n

At 09:30 UTC, the forint is -0.25% at 303.70, trading approximately in the middle of its daily range of 304.14 \u2013 302.70.<\/p>\n

USD\/HUF: Hungarian Forint Pares Gains Despite Stronger PPI<\/h2>\n

The forint is trending lower in line with the euro on Tuesday after gaining 2.3% versus the greenback over the past 10 day. In the previous session the forint advanced even as the manufacturing PMI declined, almost stagnation. Meanwhile today, the forint is easing despite producer price index jumping 3.8% versus expectations of a 2.6% increase. The producer price index measures inflation at wholesale level. A strong PPI reading usually indicates and strong uptick in consumer level inflation l=further down the line, lifting a currency.<\/p>\n

However, the forint is shrugging off the data trading on the back of sentiment and growing expectations that coronavirus could hit the European economies hard. Up until now, investors have been fretting over the impact of coronavirus on the Chinese economy and on the US. However, with the number of cases in Europe on the rise, the economic implications will be grave, as the OECD warned yesterday.<\/p>\n

Dollar Eases After Steep Sell Off<\/h2>\n

The US dollar was moving cautiously higher in early trade after a steep sell off across the broad in the previous session. Yesterday the dollar was under pressure as investors priced in a rate cut from the Federal Reserve. The Fed was then joined by the BoE and the BoJ pledging stability to their economies in the face of coronavirus disruption. US manufacturing PMI also showed the coolest rate of growth in 6 months, unnerving investors and revealing the initial impact that the coronavirus outbreak is having on the economy.<\/p>\n

Today there is little on the US economic calendar to attract investors\u2019 attention. Instead they will look ahead to tomorrow\u2019s ADP private payroll figures and the ISM non-manufacturing data ahead of Friday\u2019s all important US non-farm payroll release. Further signs of weakness in the data, could send the dollar sharply lower.<\/p>\n

\n

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The Hungarian forint is edging lower versus the US dollar in early trade on Wednesday. After rallying 1.3% versus the greenback in the previous session the forint is giving back some of those gains. At 09:30 UTC, the forint is -0.25% at 303.70, trading approximately in the middle of its daily range of 304.14 \u2013 […]<\/p>\n","protected":false},"author":163946597,"featured_media":84198,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1922,1381],"tags":[2139,2335,1927,1921,1387,1480,1447,1397,1398,2411],"class_list":{"0":"post-96970","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-huf","8":"category-usd","9":"tag-coronavirus","10":"tag-covid-19","11":"tag-huf","12":"tag-hungarian-forint","13":"tag-inflation","14":"tag-manufacturing-pmi","15":"tag-ppi","16":"tag-us-dollar","17":"tag-usd","18":"tag-usd-huf"},"acf":[],"yoast_head":"\nUSD\/HUF: Hungarian Forint Slips After Jumping 1.3% In Previous Session - 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\/102563-usd-huf-forint-slips-after-jumping-1-3-in-previous-session\/\" \/>\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\\\/102563-usd-huf-forint-slips-after-jumping-1-3-in-previous-session\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102563-usd-huf-forint-slips-after-jumping-1-3-in-previous-session\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"USD\\\/HUF: Hungarian Forint Slips After Jumping 1.3% In Previous Session\",\"datePublished\":\"2020-03-03T10:00:47+00:00\",\"dateModified\":\"2020-03-03T13:12:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102563-usd-huf-forint-slips-after-jumping-1-3-in-previous-session\\\/\"},\"wordCount\":612,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102563-usd-huf-forint-slips-after-jumping-1-3-in-previous-session\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/12\\\/huf-hungarian-forint-exchange-rates-usd.jpg\",\"keywords\":[\"coronavirus\",\"covid-19\",\"HUF\",\"Hungarian Forint\",\"Inflation\",\"manufacturing pmi\",\"ppi\",\"us dollar\",\"usd\",\"usd\\\/huf\"],\"articleSection\":[\"HUF\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102563-usd-huf-forint-slips-after-jumping-1-3-in-previous-session\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102563-usd-huf-forint-slips-after-jumping-1-3-in-previous-session\\\/\",\"name\":\"USD\\\/HUF: Hungarian Forint Slips After Jumping 1.3% In Previous Session - 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