EUR/HUF will reverse back in the following days

7 feb 2020

The pair will reverse back in the following days towards a key support line. The UK, 5th largest economy in the world and 2nd in Europe, officially withdraw from the EU on January 31. Brexit Party leader Nigel Farage predict the collapse of the European Union in ten (10) years. The comment came on his last day in the EU Parliament, just two (2) days before the UK leaves. The comment is timely as the eastern bloc rallies against the Germano-Franco leadership in the bloc. It also came during the time when Germany and France’s economy is experiencing a slowdown. The two (2) countries will report their export and import figures for the month of January today, February 07. December’s results were disappointing, showing figures for the trade balance declining. This means that imports are higher than exports, a negative sign for the euro. Hungary and its fellow V4 members were the countries with the highest economic growth in the EU.