Jump to navigation

Free Newsletter Modern Trader Follow

Main menu

  • Futures
    • Modern Trader Magazine
    • Commodities
    • Futures Mag Archives
    • ETFs
    • Financials
    • Forex
    • Managed Funds
    • Market Analysis
    • News
    • Options
    • Regulation
    • Technology
    • Trading Strategies
    • Education
    • Futures Op-Ed
  • Favorites
    • Alpha Pages Most Popular
    • Futures Magazine
    • Modern Trader Magazine
    • Most Popular
    • Slideshows & Lists
    • Special Topics
      • Alpha Hunters
      • Bad Boys
      • FINtech
      • High-Frequency Trading
      • Trader's Life
      • Trading Strategies
      • FUTURES MAG's 500th ISSUE
      • We asked traders
  • Traders
    • Market Data
    • Hot Charts
    • Interactive Charts
    • Trading Calendar
  • FINalternatives
  • Hard Assets
    • Home
    • Base Metals
    • Precious Metals
    • Rare Earth Metals
    • Commodities
    • Mining Investments
    • Slideshows
  • Modern Trader
    • Subscribe
    • Past Issues
  • All +
    • Follow Us +
      • FuturesMag
      • Newsletters
      • Facebook
      • Google+
      • Linkedin
      • Twitter
      • RSS Feeds
    • About Us +
      • About
      • Advertise
      • Contact
      • Contribute
      • Privacy Policy
  • !
Follow Futures          
       
more >>

We Asked Traders

We asked traders for their opinion on the launch of bitcoin futures

Sponsored Content

Trading

Equities.com launches unlimited trading via Tradier Brokerage, Transforming into a news & fintech portal

Featured Topics

more Commodities>>

Commodities

Energy demand steps back in play
Advertisement
more Volatility>>

Volatility

Volatility & opportunity in the energy sector
Daily Price Action: E-mini S&P 500
more Options>>

Options

Trading Vertical Option Spreads

Hungarian Blues

By Joseph Trevisani

June 5, 2010 • Reprints

Hungary may not be a member of the European Monetary Union -- those 16 countries of the 27 member European Union that use the euro -- but its policies can certainly affect the united currency. The euro dipped below 1.2000 against the dollar for the first time since late March 2006 in New York afternoon trading. The primary cause of the fall was comments by a Hungarian Government spokesman for newly installed Prime Minister Viktor Orban. Peter Szijjarto said, “It’s clear that the economy is in a very grave situation. I don’t think it’s an exaggeration at all” to talk about default.

In a normal world, such a comment would apply largely to the Hungarian currency the forint, which has fallen more than 4% against the euro since Wednesday.

Some commentators have noted that the Hungarian government, whose public debt is at 78% of GDP, less than several members of the EMU, has asked for and been denied approval to widen its budget deficit. They see these comments as a way to pressure the EU into granting permission. But the real pressure on the euro comes from the continuing sovereign debt problems in Greece, Spain, Ireland, Portugal and Italy. Without these precursors the Hungarian threat would be nothing more than a small thundercloud over the Carpathians.

Joseph Trevisani is the Chief Market Analyst for FX Solutions,LLC

FX Solutions, LLC assumes no responsibility for errors, inaccuracies or omissions in these materials. FX Solutions, LLC does not warrant the accuracy or completeness of the information, text, graphics, links or other items contained within these materials. FX Solutions, LLC shall not be liable for any special, indirect, incidental, or consequential damages, including without limitation losses, lost revenues, or lost profits that may result from these materials.

About the Author

Related Articles
ECB could turn Swiss Bank's old 1.20 floor into new ceiling
Daily forex rundown: Euro, yen, Aussie & CAD
Daily forex rundown: Euro, yen, Aussie & CAD
USD/JPY breaks out as US bond yields extend gains
Potentially dovish ECB could accelerate EUR/USD’s breakdown
Previous
When China floats, Hong Kong hopes to soar
Next
The Week Ahead in Forex
Related Terms
European Union 2864Joseph Trevisani 46European Monetary Union 24Viktor Orban 5FX SolutionsLLC 4Hungarian Government 2Peter Szijjarto 1

Free Newsletter Modern Trader Follow

Main menu

  • Futures
    • Modern Trader Magazine
    • Commodities
    • Futures Mag Archives
    • ETFs
    • Financials
    • Forex
    • Managed Funds
    • Market Analysis
    • News
    • Options
    • Regulation
    • Technology
    • Trading Strategies
    • Education
    • Futures Op-Ed
  • Favorites
    • Alpha Pages Most Popular
    • Futures Magazine
    • Modern Trader Magazine
    • Most Popular
    • Slideshows & Lists
    • Special Topics
      • Alpha Hunters
      • Bad Boys
      • FINtech
      • High-Frequency Trading
      • Trader's Life
      • Trading Strategies
      • FUTURES MAG's 500th ISSUE
      • We asked traders
  • Traders
    • Market Data
    • Hot Charts
    • Interactive Charts
    • Trading Calendar
  • FINalternatives
  • Hard Assets
    • Home
    • Base Metals
    • Precious Metals
    • Rare Earth Metals
    • Commodities
    • Mining Investments
    • Slideshows
  • Modern Trader
    • Subscribe
    • Past Issues
  • All +
    • Follow Us +
      • FuturesMag
      • Newsletters
      • Facebook
      • Google+
      • Linkedin
      • Twitter
      • RSS Feeds
    • About Us +
      • About
      • Advertise
      • Contact
      • Contribute
      • Privacy Policy
  • !
images