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At the beginning of the week, we will start with remarkable data at home, the MNB Monday In the morning, it will publish the stock of international reserves at the end of August and the stock market statistics on the ownership structure in July. This is offset by the fact that there will be no trade in America due to Labor Day.
| 7-13 September 2020 macro calendar | ||||||
| Hungarian macroeconomics | ||||||
| September | 7. | Monday | 8:30 | MNB | International reserves | Aug. |
| September | 7. | Monday | 8:30 | MNB | Stock statistics | July |
| September | 7. | Monday | 15:00 | MNB | Currency swap tender | |
| September | 8. | Tuesday | 9 o’clock | KSH | Commercial hosting | July |
| September | 8. | Tuesday | 9 o’clock | KSH | Exterior. product billing (first estimate) | July |
| September | 9. | Tuesday | 11:00 | P.M | Budget report | Aug. |
| September | 8. | Tuesday | 11:30 | ÁKK | 3-month dkj auction | |
| September | 8. | Tuesday | 13:00 | MNB | Bond purchase auction | |
| September | 9. | Wednesday | 8:30 | MNB | Prudential data of credit institutions | Q2 |
| September | 9. | Wednesday | 9 o’clock | KSH | Inflation | Aug. |
| September | 9. | Wednesday | five pm | MNB | Repotender | |
| September | 10. | Thursday | 11:30 | ÁKK | Bond auction | |
| September | 10. | Thursday | 15:00 | MNB | One week deposit offer | |
| September | eleven. | Friday | 9 o’clock | KSH | Industry (second estimate) | July |
| International macroeconomics | ||||||
| September | 7. | Monday | U.S | Working day | ||
| September | 7. | Monday | 8:00 | German. | Industry | July |
| September | 8. | Tuesday | 1:50 | Japan | GDP | Q2 |
| September | 8. | Tuesday | 8:00 | German. | Foreign trade | July |
| September | 8. | Tuesday | 11:00 | ME | GDP | Q2 |
| September | 9. | Wednesday | 3:30 | China | Inflation | Aug. |
| September | 10. | Thursday | 13:45 | ME | ECB interest rate decision | |
| September | 10. | Thursday | 14:30 | ME | Christine Lagarde press conference | |
| September | 10. | Thursday | 14:30 | U.S | Weekly unemployment | |
| September | eleven. | Friday | 8:00 | German. | Inflation | Aug. |
| September | eleven. | Friday | 14:30 | U.S | Inflation | Aug. |
| Source: Portfolio Collection | ||||||
New data on Hungarian tourism are coming in Tuesday In the morning from the CSO it will be revealed to what extent the sector recovered in July, if national visitors made up for the shortage of foreigners. The latest data on foreign trade will also be published by the statistical office, and in the morning the Ministry of Finance will publish a report on the state of the budget at the end of August. Already in the first seven months, we saw a sharp jump in the deficit, and recently the ministry also admitted that the deficit could reach 7.9% of GDP by the end of the year. In addition to the above, it will be worth paying attention to the increase in the auction for the purchase of government securities of the MNB; the central bank raised its weekly purchases to 40 billion weeks. In Japan, the revised quarterly GDP data will arrive at dawn and Eurostat will release similar data in the morning.
Wednesday The most important data of the week will be published in the morning from the Hungarian point of view, the CSO will publish the inflation figures for August. In July, the pace of price rises unexpectedly jumped to 3.8% near the top of the central bank’s target band, clearly having a negative effect on the forint exchange rate. That is why the August data is now under special attention, which may have a significant effect on the fate of the Hungarian currency. In addition to inflation, it is worth paying attention to the data of the Hungarian banking system in the second quarter. Like Hungary, the latest inflation data will appear in China at dawn.
Thursday In Hungary, only the quasi-standard bond auction and the MNB’s week-long deposit auction is worth mentioning, while abroad the biggest event of the week is approaching, as the Governing Council of the ECB meets to decide the interest rate. According to experts, the most important question may be how the central bank comments on the recent announcement by the Fed of a change in the inflation target and if the monetary policy of the eurozone is moving in a similar direction.
To KSH on Friday provides revised data on industrial production in July, and abroad, the evolution of inflation in Germany and the United States may be relevant for investors.
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