The Hungarian forint forces the euro to steady this week

Jun 16, 2020

The pair is seen inching down this Tuesday as the euro’s strength falters as the risk appetite continues to go down. However, the Hungarian forint is also weakened by disappointing data from the region, resulting in a stalemate-like run for the pair today. But ultimately, the tide is expected to turn in favor of bearish investors which will help force the 50-day moving average to go even lower in the trading sessions. Investors of the Hungarian forint hopes that the 50-day MA will crash or get nearer the 200-day moving average in the coming sessions. As of now, there aren’t any significant economic reports scheduled for the Hungarian forint, so it’s very much riding the flow of other Central European currencies. Last week, the euro saw an opening against the Hungarian forint when the country reported a massively alarming drop in its April monthly trade balance.