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Trading symbol EURHUF

Forex Symbol «EURO vs Hungarian Forint» or «EURHUF»

EUR/HUF is popular currency pair in the Forex market. Hungary is trading actively with the European Union. The European Union is the largest business partner of the country. For this reason, the trading instrument EURHUF is very popular among experienced traders who choose this trade instrument for reasons of high stability and predictability of the economies of the euro area and Hungary. The most intense bidding on a specific financial instrument observed during the work time of European stock exchanges.

EURHUF is the cross rate against the U.S. dollar. Although the U.S. Dollar obviously is not present at this currency pair, it still has a significant influence on it. This can be seen, if you combine two charts: EURUSD, USDHUF. By combining these two charts in the same price chart, you can get an approximate EURHUF chart.

The U.S. dollar has a significant influence on both currencies. For this reason it is necessary to take into account the major U.S. economic indicators for the correct prediction of a future course of this financial instrument. These indicators include: the discount rate, GDP, unemployment, new created workplaces indicator and many others. Is necessary to note that discussed currencies could respond with different speed on changes in the U.S. economy, therefore, EURHUF currency pair may be a specific indicator of change at these currencies.

The course of this trading instrument was pegged to the Euro since its introduction into circulation in most countries of the European Union until 2008, when Hungary refused to anchor its currency to the Euro due to the absence of further benefit in that.

Hungary is a country with a high proportion of foreign capital in the economy. For this reason, the Hungarian economy is highly dependent on those organizations and countries that operate in the territory of this Central European state.

Hungary is an advanced industrial country in Central Europe. The main economic sectors in Hungary are engineering, metallurgy and chemical industry. Also Hungary has a very developed agriculture, a significant proportion of which are gardening and wine-making industries. Much of the products are exported abroad. A significant proportion of Hungarian income is international tourism. Millions of foreigners visit this country annually, because they attracted by the nature of the country and its ancient traditions and architecture. Hungary's main trading partners are EU countries and Russia. For this reason, when you assess the further course of the Hungarian forint, you should pay special attention to economic indicators of these regions.

If you trade cross rates, it is necessary to remember that brokers are usually set a higher spread than the more popular currency pairs, so before you start working with the cross-rates, it should be carefully acquainted with the conditions offered by the broker to trade with specified trade instrument.

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