Attention investors: here are the most important market-moving events of the week

What happened last week?

Last week was an eventful week. At the Budapest Economic Forum, Minister of National Economy Márton Nagy presented the government’s economic strategic plans for the coming years, as well as detailed forecasts. Also at the Portfolio event, MNB Vice President Barnabás Virág’s speech was delivered, in which the central bank vice president caused a huge surprise by predicting the interest rate decision of the following months: according to his indication, the interest rate may not only remain unchanged in October. In addition, the ECB also held an interest rate meeting, and the European Central Bank was much stricter than expected.

significantly to the words of Barnabás Virág the forint began to strengthenwhich rose above 400 against the euro a few weeks ago. After the vice president’s words, it managed to temporarily strengthen below 400 in the following days, but finally ended the week around 400. Sending a strict message, the ECB managed to turn around the euro against the dollar, and the common European currency began to strengthen.

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Last week saw some gains in the marketsthe S&P500 American stock index finally finished the week in profit. The BUX index, on the other hand, did not perform well, the statements of the MNB regarding interest rates and the decision of the ECB weighed on the Hungarian stock market (there was a bigger fall on these days). In any case, there is pressure on the up-and-comers due to the closeness of the US presidential election, The increase in Trump’s chances worsens the prospects of the USA’s trading partners (and the American economy, by the way). The German market was able to rise slightly last week.