The forint experienced a drastic weakening after reaching a local peak on September 22, mainly due to the escalating conflict in the Middle East. Starting the new week at HUF 402/euro, the Hungarian currency is at a depth not seen since March 2023. The coming days will be crucial for the forint’s development, with domestic factors like inflation, foreign trade balance, and retail sales playing a significant role, along with global influences from Germany and the United States.
This week, significant data on Hungary’s economy will be revealed, including information on shrinking foreign trade turnover, record low retail sales, and September’s inflation rate. The inflation rate has been fluctuating around 4% since January 2024, showing a significant improvement from over 25% a year ago. In addition, developments in the German car industry and inflation reports from the USA will also impact the financial market. [source: https://www.bitcoinbazis.hu/masfel-eves-melyponton-a-forint-inflacio-nemet-autoipar-recesszio/]
