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.
By the end of June, the market believed that a euro exchange rate above 350 forints represented a sustainable equilibrium, but recent events, such as the renewed Iranian conflict and the cessation of Russian diesel exports, highlighted Hungary’s vulnerability. The National Bank of Hungary is likely to remain vigilant, so it is unlikely that the weaker exchange rates seen before the elections will return. In the long term, a weaker exchange rate is more likely, and the possibility of interest rate cuts may also decrease.
Donald Trump’s large crypto holdings have become the main obstacle to the acceptance of regulations regarding digital assets in the United States, according to a report by Bloomberg.
Technology companies are investing heavily, particularly in the development of graphics processors, AI accelerators, data centers, and AI models. This financial pressure has led major corporations to halt stock purchases, reduce dividends, take on debt, and issue large volumes of bonds. Alphabet is a perfect example of the current state of the tech sector, with high revenues and profits, but also soaring costs and negative cash flow, which is unprecedented since its initial public offering in 2004.
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