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
Real Time News
  • The future taper isn't enough to urge the Dollar to a critical bullish break. In turn, $EURUSD has reversed shy of of August's trough and keeps in play an inverse head-and-shoulders pattern with a neckline at 1.19 https://t.co/EgUtX6Pmvy
  • USD/CAD testing short-term moving average support. Traders have cut their long exposure over the week. Get your market update from @nickcawley1 here:https://t.co/iEL5cbFnHs https://t.co/6kLkUFkFvU
  • In the West, that qualifies as a default action. Let's see how it is treated in the world's second largest economy https://t.co/PKWy7SE8Dt
  • Some Evergrande offshore bondholders do not expect company to make interest payment by Thursday deadline
  • The flash September US PMIs slowed more sharply than expected. That was a general trend across the developed world with most economies continuing to slow from their post-Pandemic peak recovery paces https://t.co/TgkUDlOyAe
  • 🇺🇸 CB Leading Index MoM (AUG) Actual: 0.9% Expected: 0.7% Previous: 0.8% https://www.dailyfx.com/economic-calendar#2021-09-23
  • $SPY showing some strength, support at the 50, res at the 23.6 $SPX $ES https://t.co/hYmriFrTKR
  • 🇺🇸 Markit Manufacturing PMI Flash (SEP) Actual: 60.5 Expected: 61.5 Previous: 61.1 https://www.dailyfx.com/economic-calendar#2021-09-23
  • Heads Up:🇺🇸 CB Leading Index MoM (AUG) due at 14:00 GMT (15min) Expected: 0.7% Previous: 0.9% https://www.dailyfx.com/economic-calendar#2021-09-23
  • Bank of England left policy measures unchanged as expected with the Bank Rate remaining at 0.1% and gilt purchases at GBP 875bln.Get your $GBP market update from @JMcQueenFX here:https://t.co/px04sJbCuq https://t.co/uwJLHi8YGL
HUF Falls Following PPI Announcement

HUF Falls Following PPI Announcement

Michael Romero,

Talking Points:

• HUF Tumbles With Depressing PPI Figures.

• Domestic and Export Sales Fall.

The HUF continued its descent following the depressing Industrial Producer Prices (PPI) announcement from the Hungarian Central Statistical Office. PPI decreased by 0.4 percent in November 2014 month-on-month (MoM) as compared to the previous month and edged down by 0.6 percent year-on-year (YoY) according to the Hungarian Central Statistical Office. The fall in industrial producer prices stemmed from alterations in both domestic and export prices, specifically in the energy and manufacturing sector, with the manufacturing sector accounting for the largest drop due to losses in coke and refined petroleum products, chemical products, machinery, and equipment.

Domestic sales prices as a whole decreased by 0.8 percent on average, while manufacturing fell 1.2 percent in the previous month. Prices were hit the hardest in the manufacture of refined petroleum products sector recording a 5.4 percent loss, followed by a loss in chemical and other chemical products of 2.7 percent. These findings came as no surprise as world oil prices continue to fall.

Export sales prices fell by an average of 0.1 percent for the entire industry in November compared to the previous month. The manufacturing of coke and refined petroleum products fell by 5.0 percent, with chemical and chemical products also falling by 2.3 percent, and machinery and equipment dropping by 2.0 percent, when compared to October.

The HUF appreciated against the USD in November by 1.4 percent in comparison to October figures, and in the past twelve months the HUF fell 11.6 percent against the USD. As world energy prices continue to fall, geopolitical turmoil persists in Europe and Russia, and with an ever strengthening USD, it comes as no surprise that the HUF finds itself tumbling following the announcement.

HUF Falls Following PPI Announcement

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

DISCLOSURES