The momentum didn’t last
In the evening, the forint started to weaken again, it is again around 388.65 against the euro, which is 0.4 percent higher than the value of Thursday evening.
Development of the EUR/HUF exchange rate
The weakening stopped
In the evening, the forint recovered a bit, but it is still close to 388 against the euro, which is 0.2 percent higher than the exchange rate on Thursday evening.
Development of the EUR/HUF exchange rate
In the meantime, the strength of the dollar did not last either, which helped the Hungarian currency for the time being. So far, the euro-dollar quotation has not been able to break through the critical level of 1.05, so a 0.15 percent strengthening of the dollar can be seen compared to yesterday.
Development of the EUR/USD exchange rate
No stopping
The forint was barely able to recover against the euro after the late afternoon fall, and then started again towards the level of around 388.5. Shortly before 5 p.m., the exchange rate jumped to 388.8. No special external influence can be seen behind the weakening, it could only have been caused by the news that Bulgaria may impose a significant tax increase on gas shipments arriving via the Turkish Stream according to a bill, which could even threaten Hungarian security of supply.
In addition, the fact that the dollar is getting stronger compared to the euro can also have a significant effect.
Development of the EUR/HUF exchange rate
The side-splitting is over, the forint has been struck
Until 4:00 p.m., the forint exchange rate barely changed compared to the euro, when it began to rapidly weaken and the exchange rate spiked above 388.65. It clearly shows how big a swing this is, that the exchange rate moved within HUF 1 all day, but now it quickly pulled almost the same amount.
Development of the EUR/HUF exchange rate
It is not entirely clear what drove the forint so far, because although the dollar strengthened against the euro, there was no movement justifying such a large change in the two leading currencies.
Development of the EUR/USD exchange rate
There is still no significant movement
As the dollar strengthened slightly against the euro, the forint also weakened minimally against the euro and the American currency. For the common EU currency, the change has already scratched the level of 388, but this cannot be considered a really significant weakening either.
Development of the EUR/HUF exchange rate
Compared to the dollar, there was no significant movement either: although the exchange rate was almost 369 in the early afternoon, the forint has now retreated a little, the exchange rate hovers at 368.
Development of the USD/HUF exchange rate
In practice, the forint is sideways
For now, there is no big movement in the forint exchange rate. Compared to the euro, the daily fluctuation is 0.2 percent, and the exchange rate ranges between 386.7 and 387.4.
Development of the EUR/HUF exchange rate
Compared to the dollar, the forint bounces between 367.75 and 366.2.
Development of the USD/HUF exchange rate
At the watershed, the exchange rate may depend on the forint and the dollar
The forint exchange rate did not change significantly compared to the euro on Friday morning: the exchange rate changed to around 387. The question is whether the forint will move towards the level of 386, which it has been tempted to do several times this week.
Information and application
In the past month, this proved to be an important level: several times the gain stopped at this change. Today, it is worth paying attention from a technical point of view, that the Fibonnacci pivotal point is at 387.2, so another weakening may come above it. While the 200-day moving average indicates a turning point at 387.6.
There is no data coming from home that significantly influences exchange rates: the KSH publishes industrial production data, but the markets do not expect any big surprises.
Development of the EUR/HUF exchange rate
The dollar will be able to move the HUF the most, as 10-year US government bonds are still hovering around 4.6-4.7 on the bond markets. If a swing similar to the one last week were to come, it could push the greenback and strengthen it against the euro, which could pull the ground from under the forint.
The euro-dollar exchange rate is now around 1.054, the exchange rate was above 1.0625 this week, which may still hold excitement.
Development of the EUR/USD exchange rate
Compared to the dollar, the forint may again move towards the ranges above 368, the opening level at the beginning of the week, but the space may open up to below 364, where the exchange rate was even on Thursday.
Development of the USD/HUF exchange rate
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