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Soft US data creating the biggest stirs at the end of the week’s trading (Joshua Privett)
The main focus many recent posts have revolved around the looming election and the potential for significant snap-backs for GBP EUROPE rates from the historic highs of the past few months.
The image of an elastic band between the thumb and forefinger come to mind. Rates moving in a favourable direction will continue to stretch, but the correction will be more severe the further this band is pulled.
The larger the stretch the greater the correction. We have seen this recently with US Dollar rates. Even with the UK election looming rates moved from their incredible lows of 1.45 back above 1.50 comfortably. Recent retail sales figures have shown the US recovery is uneven, this started a slide that has shown no signs of abating, to the dismay of Dollar sellers.
When the slide starts with GBP EUR rates, it is important to emphasise this will not be small. Personally, a gamble on a return to 1.40+ following this volatile period will be unlikely to bear fruit.
If you have Euros to buy, or USD to sell, I recommend contacting me over the weekend to discuss the various options available to you over the next few months. Rates can be pegged to eliminate any gambles, and protect your interests from an election that seems to almost be out of the voters hands for who will be in power. [email protected]
Source: http://www.poundsterlingforecast.com/2015/04/18/soft-us-data-creating-the-biggest-stirs-at-the-end-of-the-weeks-trading-joshua-privett/
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