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Euro exchange rates due for a rocky week – Plenty of data coming up! (Daniel Wright)
We would expect to see Euro exchange rates have an extremely volatile end to march with plenty of economic and political data expected to come out in the coming few weeks.
Tomorrow we have elections in the Netherlands, which have been quite widely covered in the press due to Geert Wilders and his far-right party looking likely to do very well. Generally in the Netherlands we tend to see the final result end up with a coalition Government so it is unlikely that this party will gain power, however it is another sign of the political problems we currently have around Europe and may be an indication as to how Marine Le Pen may perform in the French elections.
There does appear to be a lot of silent voters out there at present, and should either party perform exceptionally well then the Euro may weaken off, so these elections are important to monitor if you have a Euro exchange coming up in the coming weeks or months.
Secondly, we have article 50 in the U.K which I would expect to see triggered within the next two weeks. Theresa May now has the power to progress with starting the official process of leaving the EU at any time from now. As it stands, she appears to be holding off due to not wanting to interfere with the Dutch elections and the Scottish National party asking for another referendum to for Scottish independence however I feel that when she does progress with it which I personally feel will be next week, we will see the Euro moving all over the place.
In my opinion I feel that the Euro is in for the toughest year it has had in a long time and feel that Euro exchange rates will weaken in the coming months.
If you have the need to buy or sell Euros in the coming days, weeks or months and you would like help not only with the timing of an exchange but also getting the best rate you can too then feel free to contact me (Daniel Wright) directly by emailing [email protected] with a brief description of what you are looking to do and I will contact you personally to explain exactly how I can help you, we have been assisting clients exchange currency for 17 years now so you are in the right hands.
Source: http://www.eurorateforecast.com/2017/03/14/euro-exchange-rates-due-for-a-rocky-week-plenty-of-data-coming-up-daniel-wright/
