Those looking to buy or sell Euros in the coming weeks or months may wish to be wary of the pending referendum in Italy on December 4th.
In a year that has been very much focused on referendums and elections this one also has the potential to lead to large movements in the currency markets.
The basis of the referendum is to decide on limiting the power of the Senate which would give an increase in sway of the larger chamber of deputies. A win for the yes party would lead to changes in the electoral system, which then makes life easier for the leading party to claim a Government majority.
All main speculative firms are already starting to put out increased margin warnings and that margin calls may come into play. What this means is that they are expecting to see market volatility on and around the 4th December (which is this Sunday).
If you are wary of the market moving dramatically against you over this coming weekend then it may be prudent to consider your options in advance of this decision.
As the referendum is on a Sunday you may have seen the market move dramatically overnight and by the time you wake up on Monday morning the cost of your Euro purchase or sale may have got a lot cheaper or a great deal more expensive.
If you are looking to maximise your rate of exchange on any Euro requirement then it would be well worth you getting in touch with me (Daniel Wright) personally. I can help you both with the timing of your exchange and on top of that the company all of the writers of this site work for has access to exceedingly competitive rates of exchange. You can email me (Daniel Wright) on email@example.com with a brief description of what you are looking to do and I will make sure I contact you personally.