{"id":98849,"date":"2020-04-14T05:00:44","date_gmt":"2020-04-14T09:00:44","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=98849"},"modified":"2020-04-14T09:47:13","modified_gmt":"2020-04-14T13:47:13","slug":"103017-usd-huf-forint-advances-on-upbeat-market-mood","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/103017-usd-huf-forint-advances-on-upbeat-market-mood\/","title":{"rendered":"USD\/HUF: Forint Advances On Upbeat Market Mood"},"content":{"rendered":"

After weakening versus the US dollar<\/a> on Monday, the Hungarian Forint<\/a> is continuing its ascent on Tuesday. The Forint is has strengthened in 4 of the past 5 sessions, picking up from 330.35 last Thursday versus the greenback to today\u2019s best level of 322.21.<\/p>\n

At 09:15 UTC, USD\/HUF<\/a> is trading -0.4% at 322.68. This is towards the lower end of the daily range of 322.21 \u2013 324.29 on an upbeat mood in the market and as investors look ahead to the start of US earnings season.<\/p>\n

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

Chinese Trade Data Lifts Sentiment<\/h2>\n

Risk sentiment received a boost on Tuesday owing to better than forecast Chinese trade data. Chinese exports for March declined -6.6%, whilst imports declined -0.9%. Analysts had been expecting a 14% drop in exports and a 10% plunge in imports owing to the coronavirus lock down hitting demand and supply. However, the fact that the data was less gloomy than expected has lifted the broad mood in the market. As a result, investors are more willing to take on risk and buy into perceived riskier currencies such as the Hungarian Front.<\/p>\n

The boost from China overshadowed news that analysts at ING Bank are downgrading their GDP outlook for Hungary. The analysts are predicting a -3.2% contraction in 2020, down from a -0.8% contraction in their previous forecast, last month. The reason for the deeper contraction is in part owing to manufacturing PMI plunging to levels lower than that of the 2008\/9 financial crisis. Furthermore, the bank considers the Hungarian government\u2019s rescue package to be small in terms of new money.<\/p>\n

There is no Hungarian economic due for release today. \u00a0Investors will look ahead to the release of construction data on Thursday.<\/p>\n

US Earnings Season To Boost Safe Haven Demand?<\/h2>\n

The safe haven dollar is edging lower amid an improved mood in the market following the Chinese trade data and as the talk in the US turns to co-ordinating an exit strategy from lock down. 10 US governors on the east and west coasts joined together to coordinate gradual economic reopening as the coronavirus crisis finally appears to show signs of easing.<\/p>\n

Whether the good mood continues into the afternoon remains to be seen as US banks kick off earning season. Earnings are expected to be bad, if they prove to be worse than what analysts are forecasting then demand for the safe haven dollar could jump.<\/p>\n","protected":false},"excerpt":{"rendered":"

After weakening versus the US dollar on Monday, the Hungarian Forint is continuing its ascent on Tuesday. The Forint is has strengthened in 4 of the past 5 sessions, picking up from 330.35 last Thursday versus the greenback to today\u2019s best level of 322.21. At 09:15 UTC, USD\/HUF is trading -0.4% at 322.68. This is […]<\/p>\n","protected":false},"author":163946597,"featured_media":95708,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1922,1381],"tags":[2097,1409,1927,1921,2479,1397,2647,1398,2411],"class_list":{"0":"post-98849","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-huf","8":"category-usd","9":"tag-chinese-trade-data","10":"tag-gdp","11":"tag-huf","12":"tag-hungarian-forint","13":"tag-lock-down","14":"tag-us-dollar","15":"tag-us-earnings-season","16":"tag-usd","17":"tag-usd-huf"},"acf":[],"yoast_head":"\nUSD\/HUF: Forint Advances On Upbeat Market Mood - 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\/103017-usd-huf-forint-advances-on-upbeat-market-mood\/\" \/>\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\\\/103017-usd-huf-forint-advances-on-upbeat-market-mood\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103017-usd-huf-forint-advances-on-upbeat-market-mood\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"USD\\\/HUF: Forint Advances On Upbeat Market Mood\",\"datePublished\":\"2020-04-14T09:00:44+00:00\",\"dateModified\":\"2020-04-14T13:47:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103017-usd-huf-forint-advances-on-upbeat-market-mood\\\/\"},\"wordCount\":424,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103017-usd-huf-forint-advances-on-upbeat-market-mood\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2020\\\/02\\\/hungarian-forint-1.jpg\",\"keywords\":[\"chinese trade data\",\"gdp\",\"HUF\",\"Hungarian Forint\",\"lock down\",\"us dollar\",\"us earnings season\",\"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\\\/103017-usd-huf-forint-advances-on-upbeat-market-mood\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103017-usd-huf-forint-advances-on-upbeat-market-mood\\\/\",\"name\":\"USD\\\/HUF: Forint Advances On Upbeat Market Mood - 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