Euro Volatility before Italian Elections
Euro exchange rates remain supported at present on the back of largely positive data coming out of the Eurozone. Although EU confidence figures took a dip from January on Tuesday the numbers are still buoyant with no downturn expected anytime soon. Eurozone politics are going to be the theme for the rest of the week however with news expected from both Germany and Italy. Germany is in a political stalemate after the German election last Autumn proved inconclusive and the two main parties are negotiating on the formation of the grand coalition. Angela Merkel’s party has voted in favour of the coalition but the vote has also had to go out to all the members of the Social Democrat party (SPD). The postal votes are expected to be announced on Sunday. The prospect of no coalition in Germany and an anti-establishment government in Italy could see the Euro come under pressure.
GBP EUR
Clients looking to buy Euros with sterling are likely to see major market volatility this Friday when UK Prime Minster Theresa May makes her speech on Brexit. This has the potential to see a repeat of her Lancaster House speech two years ago when sterling jumped higher on the back of it. A strong speech could see a sizable jump higher for the pound and could create some excellent opportunities for those client looking to buy Euros. Just over one year ago when Theresa May gave her Lancaster House speech the pound saw major gains across all of the currencies and it should not be underestimated how much of an impact a Prime Ministers speech can have on the currency markets.
To discuss these major events this week and how they are likely to impact on the price of the Euro and your individual requirement then please get in touch with me at [email protected]
Source: http://www.eurorateforecast.com/2018/02/28/euro-volatility-before-italian-elections/
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