Remembrance Day Today – Euro is fighting back
Just to shy away from the continuing dramas of the currency markets this morning, please ensure you remember to take a minute out of your day at 11:00am this morning to observe a minutes silence, we shall indeed be doing this on what usually is a hectic trading floor.
On the currency side of things as the Europeans once again appear to be making progress (albeit minor) with getting some kind of certainty and confidence restored, the Euro is slightly fighting back, along with this the riskier currencies (AUD, NZD, ZAR, CAD) are also following suit.
A bank holiday in the Staes and Canada leads to thinner levels of trading and potentially more market volatility than usual, assuming any news comes out of great significance.
The Italians are meeting this morning to vote on Austerity measures, a positive response from that may lead to even more Euro strength over the day, it could lead to some good Euro selling opportunities – Personally I feel that the Euro’s problems will not go away and will keep on coming back with a greater force, and 1.20 may be a great Christmas present for those looking to purchase Euros in the coming weeks.
If you have an upcoming transaction to carry out do feel free to contact me directly djw@currencies.co.uk and I will be happy to explain how I can help you achieve the very best rate when the time comes.
