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.
Next month, Swiss parliamentarians will meet to discuss new capital requirements for UBS. The dual goal is to protect taxpayers from another bank collapse, as well as to dispel the bank’s fears that the stricter requirements would make the institution uncompetitive.
The Chinese memory chip manufacturer CXMT achieved its first trading day, with the company’s shares rising multiple times above the initial offering price, making it the largest company on the Chinese stock exchange in a single day. However, this impressive rally is now seen by more and more investors as a sign of overvaluation.
The price remained below 350, with a definite weakening of the forint last week, reaching 364 against the euro. What weakened our currency? Is this significant?
For the first time, a major international investment bank has set a price target for SpaceX shares that is lower than the current market price. According to HSBC, the company still has significant growth potential, but investors have largely priced this in, while the company may remain unprofitable for several years, Yahoo Finance reports.