Hungarian data release could affect forint this week

The key macroeconomic release in Hungary this week will be the July inflation data by the Central Statistical Office (KSH) on Wednesday. The CPI print should be watched more closely as it could set the path for the forint in the coming period. Inflation stats are also in the pipeline in the United States at the end of the week, and investors will also be paying attention to British and Japanese GDP data.
Hungarian data release could affect forint this week
We’re off to a slow start. On Monday, there’s only factory orders in Germany that deserves our attention. On Tuesday, the Hungarian central bank (MNB) will release its latest international reserves data, and the Central Statistical Office (KSH) will publish industrial production figures for June. The Finance Ministry will disclose the latest general government sector data for July in the morning. Germany will release IP and foreign trade data on this day.

' title='
For Hungary, the key release this week is definitely inflation stats for July to be published on Wednesday morning, as it will show how temporary the June CPI jump was. And it could have an impact on the forint, especially as the Hungarian currency was stuck in a narrow range between 320 and 322 last week. The CPI print could potentially nudge EUR/HUF out of this range. China is also set to release its latest foreign trade figures early on Wednesday.

On Thursday morning, the Hungarian stats office is to release the latest foreign trade figures and FX investors may want to keep an eye on China’s latest inflation data. The last day of the week will feature construction industry figures in Hungary and the central bank’s government security statistics, while exchange rates elsewhere may be affected by GDP releases in Japan and the UK, as well as by U.S. CPI stats.

More in Economy

February 21, 2020 17:20

Inflation was nowhere more devastating in Europe than in Hungary

Hungary is European Champion but cheers are scarce

February 21, 2020 15:17

Japanese credit rating agency upgrades Hungary's ratings

JCRA has been holding a positive outlook on Hungary since 2017

February 21, 2020 10:56

World's second largest bank comes to Hungary

China Construction Bank opens local branch

influenza járvány vírus betegség maszk
February 21, 2020 09:25

Flu still in full swing Hungary

37,000 new cases last week

vonat vasutas mozdonyvezető
February 21, 2020 08:48

Hungarian trade unions call for wage hikes

This time in public services

February 20, 2020 09:56

Tesco Hungary to hike wages in two stages

Plans to spend HUF 3.8 billion on wage increase