The recover of the European Union with the Visegrad Group

Nov 2, 2020

The pair failed to break out from an uptrend channel resistance line, sending the pair lower. Eastern Europe is leading the recover of the European Union with the Visegrad Group at the forefront. Hungary managed to lessen the country’s unemployment rate from 4.6% in August to 4.4% in September. The recent report represents the second consecutive decline in the country’s unemployment report this year. Aside from this, the $272.00 million increase in the country’s trade balance report will further add strength to the Hungarian forint. On the other hand, western Europe led by Germany and France were mixed in their third-quarter GDP results last week. Germany’s Q3 result was an expansion of 8.2%, beating analysts’ estimates of 7.3% growth. Despite this, the growth in Q3 was lower than the previous quarter’s -9.8%. The opposite is true for France which grew by 18.2% beating both estimates and the previous record of 15.4% and -13.7%, respectively.