Profile image
By Euro Rate Forecast (Reporter)
Contributor profile | More stories
Story Views

Last Hour:
Last 24 Hours:

Buying Euro rates tick down slightly the begin the week (Joshua Privett)

Monday, October 24, 2016 12:24
% of readers think this story is Fact. Add your two cents.

As my last article detailed on Sunday, the Euro gained against the Pound during the day’s trading, with buying Euro rates beginning to test the 1.11 bracket once more. Luckily for anyone with a GBP/EUR requirement, softer tones coming from Brussels negotiations allowed the Pound some respite so that the losses were minimal.

This morning the key feature to watch out for was business confidence data for the German economy which came out first thing this morning. As the Eurozone’s powerhouse economy, markets are especially sensitive to any information emerging from here, with big changes to the value of the Euro possible.

This data was phenomenally positive. The reasons are as yet unclear as to why, with many competing theories.

These business confidence figures are essentially a measure of where Director’s believe the state of the economy will be in a few months and expectations for stability and profit. With the recent crisis over at Deutsche Bank where Germany’s largest financial institution had to have a guarateed bailout offered by the German Government, the reversal of fortune was surprisingly rapid and strong.

This has prompted rumours of many British based banks having already entered into negotiations with Germany to move their base of operations there.

In the short-term for Euro buyers this means that the Euro has gained strength and become a more expensive prospect.

Moving forward we have the most important release of the month arguably, which is the first look at UK growth data since the Leave vote.

A drop is expected, however it is whether drop exceeds expectations or is minimized which will impact the currency markets most. Given the strong potential for surpise during this period, Euro buyers may be wise to avoid the day entirely, and seize the four cent recovery from the flash crash a few weeks ago before it may be tested again.

In the meantime markets will continue to move between now and the release on Thursday, and opportunities should continue to present themselves given the current volatility in the marketplace.

I strongly recommend that anyone with a buying Euro requirement should contact me overnight whilst markets are quiet on to discuss the options open to you to safeguard your transfer and make the most of what is available in this current marketplace.

I have never had an issue beating the rates of exchange on offer elsewhere, so a brief conversation could save you thousands on an upcoming transfer.

You can also contact me on the form below, and I will respond to you as soon as I am able.



We encourage you to Share our Reports, Analyses, Breaking News and Videos. Simply Click your Favorite Social Media Button and Share.

Report abuse


Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories



Top Global


Top Alternative




Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.