{"id":97891,"date":"2020-03-24T06:00:52","date_gmt":"2020-03-24T10:00:52","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=97891"},"modified":"2020-03-24T06:25:09","modified_gmt":"2020-03-24T10:25:09","slug":"102784-usd-huf-forint-soars-as-mood-music-improves","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/102784-usd-huf-forint-soars-as-mood-music-improves\/","title":{"rendered":"USD\/HUF: Forint Soars As Mood Music Improves"},"content":{"rendered":"

The Hungarian Forint<\/a> has jumped versus the US Dollar<\/a> in early trade on Tuesday as the mood across financial markets improved. At 09:15 UTC USD\/HUF<\/a> was trading over 1% lower at 323.71. The Forint continues to fall away from its record low versus the US Dollar of 335 reached in the previous week.<\/p>\n

Check real time HUF to USD exchange rate<\/span><\/a><\/div>\n

NBH Interest Rate Meeting Up Next<\/h2>\n

The Hungarian Forint is strengthening on Tuesday as risk sentiment picks up following encouraging data from Italy. The number of deaths in Italy from coronavirus dipped for a second straight day on Monday, fuelling hopes that the devastating outbreak may have peaked there. The government announced a death toll of 602, down from 651 on Sunday and 793 on Saturday. These are signs that the strict lock down implemented 2 weeks ago could finally be stemming the spread of coronavirus.<\/p>\n

Surprisingly, the Forint has even managed to hold onto its gains despite the latest data showing business activity in the eurozone collapsing in March. Business activity in the Eurozone, Hungary\u2019s largest trading partner crashed to a record low of 31.4 as the economic impact of coronavirus starts to take hold.<\/p>\n

Today the National Bank of Hungary is expected to hold its next rate setting meeting. Analysts are broadly expecting that the central bank will keep rates on hold. Some analysts believe that the National Bank of Hungary could launch quantitative easing to dampen the economic fallout of coronavirus.<\/p>\n

US PMI\u2019s In Focus<\/h2>\n

The US Dollar is easing lower after the Federal Reserve, On Monday, unleashed an unlimited bond buying programme to support the economy through the coronavirus outbreak. It pledged to buy not only government bonds but also corporate bonds in an unprecedented move. The US economy is expected to contract sharply over the coming weeks.<\/p>\n

Also boosting sentiment and dragging the safe haven dollar lower is optimism that US Congress is making progress towards a $2 trillion fiscal stimulus package.<\/p>\n

Today investors will look towards the US purchasing managers index. Analysts are forecasting activity in the manufacturing sector will decline to 42 in March, down from 53 in February. The service sector is expected to see a bigger hit, with activity declining to 40, down from 49.7. If the eurozone data is anything to go by, the US service sector could be in a worst state than analysts are expecting.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Hungarian Forint has jumped versus the US Dollar in early trade on Tuesday as the mood across financial markets improved. At 09:15 UTC USD\/HUF was trading over 1% lower at 323.71. The Forint continues to fall away from its record low versus the US Dollar of 335 reached in the previous week. NBH Interest […]<\/p>\n","protected":false},"author":163946597,"featured_media":97142,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1922,1381],"tags":[2139,1927,1921,1934,1454,1397,1398],"class_list":{"0":"post-97891","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-huf","11":"tag-hungarian-forint","12":"tag-national-bank-of-hungary","13":"tag-pmi","14":"tag-us-dollar","15":"tag-usd"},"acf":[],"yoast_head":"\nUSD\/HUF: Forint Soars As Mood Music Improves - 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\/102784-usd-huf-forint-soars-as-mood-music-improves\/\" \/>\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=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102784-usd-huf-forint-soars-as-mood-music-improves\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102784-usd-huf-forint-soars-as-mood-music-improves\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"USD\\\/HUF: Forint Soars As Mood Music Improves\",\"datePublished\":\"2020-03-24T10:00:52+00:00\",\"dateModified\":\"2020-03-24T10:25:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102784-usd-huf-forint-soars-as-mood-music-improves\\\/\"},\"wordCount\":417,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102784-usd-huf-forint-soars-as-mood-music-improves\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2020\\\/03\\\/hungarian-forint-1000-bank-notes-HUF.jpg\",\"keywords\":[\"coronavirus\",\"HUF\",\"Hungarian Forint\",\"National Bank of Hungary\",\"pmi\",\"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\\\/102784-usd-huf-forint-soars-as-mood-music-improves\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102784-usd-huf-forint-soars-as-mood-music-improves\\\/\",\"name\":\"USD\\\/HUF: Forint Soars As Mood Music Improves - 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