The price of oil is fluctuating, and the forint has depreciated.
Friday could be a correction day on the Hungarian forint market, as the rise in oil prices has stalled, which led to the weakening of the forint. The price of Brent has fallen, so the EUR/HUF exchange rate has experienced a significant correction from the approximately 365 level seen on Thursday. The expected cuts in interest rates by the Magyar Nemzeti Bank (MNB) could also support the forint, while traders are monitoring the situation in the Middle East and other international factors.
The day of the correction could be Friday on the forint market, after the oil price increase that caused a significant decline in recent days has subsided. The price of Brent has fallen by several dollars, and the EUR/HUF exchange rate has begun a strong correction from around 365. The Hungarian currency is also supported by the fact that the market is pricing in less MNB interest rate cuts due to the energy crisis, while traders are still watching developments in the Middle East, US tariffs, the movement of the dollar, and bond yields.
