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Europe wakes from its August hibernation- When to buy?
Even though euro news has been out of the media recently due to the August holiday break and the Olympics, everyone with a currency requirement should be aware of it pending return. Moody’s the rating agency warned this week that it will take many more years to complete the fiscal adjustment program and structural reforms. They went on to warn that the task of sorting out the Eurozone crises is at best only halfway through. Read more here.
The first installment of news started yesterday as the Greek prime minister Antonis Samaras pleaded for more time to pay back debt. He said that the Greeks economy is “bleeding” and needs a little “air to breath,” this was at the start of several days of key meetings. Any extension will need to be signed off by Germany who has been against any form of extension, (a 2 year extension is expected to cost a further €20 billion to finance.)
This story will be key for anyone with a GBPEUR trade over the next 7 days; I would not be surprised to see GBPEUR swing upwards of 2% making a difference of €2,400 for every £100,000 exchanged. If you need to complete a trade within this time please contact the trading desk for times and days on when to potentially complete your exchange.
If you are looking for the best exchange rate and to buy at the high, please register your interest by email [email protected]
Making forecasts and helping people achieve the best exchange rate is what we do. If you have found this blog useful all I would ask is try us out.
At the end of the day if we could not help we would not be in business and all you may lose is 3 minutes on the phone.
Thank you,
Steve Eakins
2012-08-22 19:51:01
Source: http://www.eurorateforecast.com/2012/08/22/europe-wakes-from-its-august-hibernation-when-to-buy/
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