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Volatile day on the markets as Mark Carney battles markets (Joshua Privett)
The difference between the high and the low today was more than a 1.5 cents. Mark Carney’s speech today was fantastic example of how much a single speech can affect market activity.
This is a lesson in global economic climate. With interest rates being kept low for so long, investors are desperate for potential profit. Even emerging markets with traditionally higher returns are slowing down. Hints of rate rises are enough to flood demand for any currency, and hence bolster their value, visible on your screens at home.
However, the effects of a looming election brought rates back to the low 1.36′s. This has certainly been the trend over the past few weeks, though recent movements have shown the momentum is slowing.
The first bit of data that brought rates back up was UK retail sales. It’s possible that GDP figures for the UK on Tuesday next week shall present similar buying opportunities for those looking to purchase Euros.
Email me for some more tailored advice about your situation over the weekend on [email protected]
Source: http://www.eurorateforecast.com/2015/03/27/volatile-day-on-the-markets-as-mark-carney-battles-markets-joshua-privett/
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