The forint’s trading on Thursday initially stabilized, but the exchange rate weakened throughout the day due to the international mood and expectations regarding US labor market data. Important factors include the US-Iran negotiations, the price of oil, and expected interest rate changes by the Japanese and US central banks. The KSH’s unfavorable industrial and retail data also affected the forint, while demand for Hungarian government bonds remained stable.
According to Nicolo Bocchin, one of the key managers of Azimut Group, Japanese government bonds currently offer one of the most attractive opportunities in the global bond market, even though many consider them risky. Bocchin, who is a bond expert for the company based in Dubai, believes that the Japanese central bank will not aggressively raise interest rates, as he believes that the market overestimates Japan’s inflation prospects.
The UK’s largest pension funds have announced that they are exploring the creation of a new investment fund with a budget of around £1 billion. The fund aims to support rapidly growing companies in the UK’s science and technology sectors. It seeks to provide pension fund investors with stable, long-term returns while also stimulating the domestic economy.
Boeing ended the second quarter with losses larger than expected, primarily due to the ongoing Air Force One program. However, the aircraft manufacturer was also able to increase revenues in several business segments, and its free cash flow significantly exceeded analyst expectations, according to CNBC.
Coca-Cola reported better-than-expected quarterly results, and due to strong demand for beverages, the company raised its full-year forecast, leading to a more than 2 percent increase in its stock price before the market opened, according to CNBC.
As long as the monthly pension exceeds 311,000 forints in the capital, the amount does not reach 235,000 forints per month in counties such as Békés, Szabolcs-Szatmár-Bereg, or Bács-Kiskun.
Tomorrow, the Federal Reserve will decide on interest rates, while inflation is at 3.5 percent, which is significantly above the desired level, but the economy appears stable. The market sees a 62 percent chance of maintaining interest rates, but the decision could be close, as several members of the Federal Reserve are open to raising interest rates. The biggest challenge is the unpredictability of the new president’s reaction, in addition to the declining tolerance for rising real interest rates.
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