European Summit… Latest news
No major news from the summit of all summits so far… the latest being that Merkel has now mentioned she is looking at progress during this one and not an end result – Looks like we may need another summit on the summit!
Leaders are just arriving now for the big one…. personally I would be surprised to see major releases tonight as I feel they do not have and will not have a final answer that will be anywhere near good enough for the markets however this certainly does not guarantee that they will surprise us.
If i had to stick my neck out and make a prediction then I feel they will partially announce information this evening and follow up with the real nitty gritty in the next few days.
This will however lead to a nervous market throughout the week, and this does not only effect the Euro but all currencies worldwide.
Global uncertainty leads to investors becoming wary on risk, this in turn can mean that they seek a safe haven, the Dollar in fact has strengthened by over a cent in the past hour which seems to me that people do expect a muddled announcement later and risk aversion to be high.
No major movements from the AUD and NZD so far, I think the next 48 hours is key no matter what currency requirement you may have so make sure you are alert and ready to act fast should you need to as a lot of money can be mde and lost in situations such as this, you can use tools such as limit orders, stop losses and forward contracts.
If you would like more information on how these work or have a pending currency transaction be it buying or selling the Pound then do feel free to contact me directly firstname.lastname@example.org and I will be more than happy to help.