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Euro movements likely to be on the weaker side
The Euro is still in a tricky place with the economic outlook for the Eurozone mixed. Recent German data suggested an upturn in German business activity but I don’ t think this will be enough to encourage investors to seriously back the Euro. For now against both the pound and the dollar the Euro looks likely to come under further selling pressures. Tomorrow is a key date for GBPEUR with the release of the latest Bank of England projections.
I fully expect sterling to be the main benefactor of the news and the rate to continue to trade lower to mid 1.40’s. I think were we to see any move lower back to say 1.39 or 1.40, this should be pounced upon by Euro sellers as a great opportunity to buy the pound. With the Euro in the place it is currently further bad news with Greece seems highly probable too. Most analysts are giving this deal about 6 months to a year before problems with Greece start to resurface.
All in all if you need to buy Euros you are doing so at the best rates in 8 years. The forecast remain positive for buying Euros but of course nothing is certain on markets, just likely and probable. If you need to buy or sell Euros following say a business transfer or an overseas property sale or acquisition you might find it useful to speak with me about all of your options and getting the best rates. Please email [email protected] to learn more.
Source: http://www.eurorateforecast.com/2015/08/05/euro-movements-likely-to-be-on-the-weaker-side/
At the moment I am going with Sell with most currency since I believe the market is definitely looking bearish, so we can take solid advantage from it. I am following this site regularly to get the latest on market while another massive advantage for me is that I have high class broker like OctaFX, it also helps me with giving daily market updates that too by highly qualified team of experts and without charging anything at all in any situation.