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. See our updated Privacy Policy here.

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
Subscribe
Please try again
More View more
HUF Devaluation Continues Following Depressing Unemployment Figures

HUF Devaluation Continues Following Depressing Unemployment Figures

Michael Romero,

Talking Points:

• HUF Devaluation Follows Unemployment Figures.

• Forint Continues Descent.

As expected the HUF/USD continued its descent on Tuesday following the November unemployment rate announcement by the Hungarian Central Statistical Office. Hungary’s unemployment rate increased to 7.2 percent in November 2014, up from 7.1 percent in October 2014, with just a year ago unemployment registering at 9.2 percent. The increase was the first of its kind for the year 2014 as unemployment has steadily been decreasing since January. The forint has been on a steady descent since the beginning of 2014 amid the positive unemployment statistics, such a devaluation could be the result of the expected interest rate hikes in the US, and or geopolitical uncertainty throughout Europe, as well as other factors.

HUF Devaluation Continues Following Depressing Unemployment Figures

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

DISCLOSURES