| Online: | |
| Visits: | |
| Stories: |
| Story Views | |
| Now: | |
| Last Hour: | |
| Last 24 Hours: | |
| Total: | |
Talk of deposit rate cuts and a generally negative press conference lead to Euro weakness across the board (Daniel Wright)
The Euro took a tumble against all major currencies in trading today, leading to an extremely busy afternoon on the trading floor and some fantastic buying opportunities for anyone looking to buy Euros with Sterling.
Head of the European Central Bank Mario Draghi appeared vague with his comments, which suggest that we may see movement from the ECB in the next meeting and he also mentioned that when quarterly forecasts are updated in December they may have to make a move should they change.
The ECB press conference and statement can often involve a lot of cryptic clues for traders to pull decipher and today was no different.
I feel now that the Euro may find life tough for the next week or so, however those that buy or sell currency on a regular basis will know that it is extremely rare that the Euro lies down and gets walked over without fighting back, even with the worst of news.
If you do need to carry out a bank transfer involving buying or selling Euros then it is well worth you getting into contact with me personally. We offer a range of contracts that can help you make the most of your money in these volatile times and generally can better anyone else in the market in terms of our exchange rates. Feel free to send me (Daniel Wright) an email directly on [email protected] and I will be more than happy to get in touch to tailor a plan for you depending on your personal or business requirements.
Source: http://www.eurorateforecast.com/2015/10/22/talk-of-deposit-rate-cuts-and-a-generally-negative-press-conference-lead-to-euro-weakness-across-the-board-daniel-wright/
