News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Mixed
Oil - US Crude
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
Bearish
Gold
Bullish
GBP/USD
Bearish
USD/JPY
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: US 500: 0.14% Wall Street: 0.01% FTSE 100: -0.20% Germany 30: -0.78% France 40: -1.42% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/Q6UKBovHvF
  • Join @MartinSEssex 's #webinar at 6:30 AM ET/10:30 AM GMT to learn more about trading #sentiment Register here: https://t.co/XUUPRdY06p https://t.co/3PZaK76ujX
  • Heads Up:🇿🇦 Unemployment Rate (Q3) due at 09:30 GMT (15min) Previous: 23.3% https://www.dailyfx.com/economic-calendar#2020-10-27
  • Join @PaulRobinsonFX 's #webinar at 5:30 AM ET/9:30 AM GMT for insight on London #FX and #CFD trading. Register here: https://t.co/AoM3UvLtcF https://t.co/iSGErOq12D
  • Emotions are often a key driving force behind #FOMO. If left unchecked, they can lead traders to neglect trading plans and exceed comfortable levels of risk. Read on and get your emotions in check here:https://t.co/eILWbFgHRE https://t.co/oIGwwUxkA1
  • Brush up your knowledge on trade-wars with this tool from DailyFX research briefly outlining trade-war history dating back to the early 1900s here: https://t.co/ZWaL6laTU5 https://t.co/UYZKfhgVKI
  • 🇪🇸 Unemployment Rate (Q3) Actual: 16.26% Expected: 15.9% Previous: 15.33% https://www.dailyfx.com/economic-calendar#2020-10-27
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.88%, while traders in NZD/USD are at opposite extremes with 72.85%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/AkpsGpdS41
  • Heads Up:🇪🇸 Unemployment Rate (Q3) due at 08:00 GMT (15min) Expected: 15.9% Previous: 15.33% https://www.dailyfx.com/economic-calendar#2020-10-27
  • Commodities Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Silver: 0.84% Oil - US Crude: 0.44% Gold: 0.14% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/kuo5ryd7Y5
Hungarian S&P Credit Outlook Stable—BB

Hungarian S&P Credit Outlook Stable—BB

2014-09-22 19:48:00
Kara Dailey,
Share:

Talking Points:

  • S&P Affirms Double-B Sovereign Credit Rating
  • €21.9 Billion Partnership Agreement with EU Boosts Recovery
  • HUF Likely to Trade Based on US Interest Rate Changes

Standard & Poor’s affirmed Hungary’s double-B sovereign credit rating. The financial services company felt that any political risks to Hungary’s creditworthiness were offset equally by an improved economic outlook.

The decision by Hungary’s central bank to lower rates over the past two years from 7.0% to 2.1% has helped the economy recover, posting an expected growth rate of 3%-- a level not seen since 2007. The economy has further benefited from a €21.9 billion partnership agreement with the European Union. Under this agreement, aid will be dispersed through 2020 to advance the competitive presence of key industries including the agriculture and maritime sectors. Furthermore, as the economy settles, and growth rates slow to 1-1.5% Hungary is still expected to have the external financing capacity to cover their current account deficit.

With a balanced economic outlook and unchanged credit rating the USD/HUF will likely trade between the 240-250 support/resistance range and in step with US interest rate expectations.

Hungarian S&P Credit Outlook Stable—BB

Graph Created By Jeremy Wagner Using MarketScope 2.0

Sources:

http://www.investineu.com/content/european-commission-adopts-%E2%80%98partnership-agreement%E2%80%99-hungary-using-eu-structural-and-investmen

http://online.wsj.com/articles/s-p-affirms-hungarys-rating-1411146473

http://www.bbj.hu/economy/s-and-p-hungarys-rating-still-stable_85425

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES