Spain sees credit rating downgrade leading to further Euro weakness against Pound – US GDP data due out today market volatility expected for all majors
Credit rating agency Standard and Poors have knocked down Spains credit rating another two notches to BBB+. With Spanish unemployment nearing 25% and the economy looking in great danger of becoming Greece the part two….
Spain now appears that it may be the next weight piled on the European Central Bank’s shoulders in the coming weeks and months and as mentioned before this is a much bigger situation than we have had previously and will indeed make confidence in the Euro extremely low.
If you have Euros to sell then it may be prudent to look at all the options available to you fairly quickly, if you are in the process of selling your property overseas then a forward contract may be the right option, this is where you can lock into a rate of exchange for anything up to two years in advance for just a small deposit… The deposit can indeed be taken in another currency if you have no access to Euros at this time. Email me directly if you would like more details on this djw@currencies.co.uk
U.S GDP data today
Todaywill see the release of U.S GDP figures to round off what has been a reasonably volatile week on the currency market. This data release can lead to volatility for all major currencies with the U.S being a key indicator as to how the entire global recovery is going as a whole. Poor figures could lead investors to be a little more risk adverse which may lead the them pulling out of the riskier currencies such as the AUD, NZD and ZAR meaning that they weaken and are cheaper to buy. Should U.S figures be much
better than expected it may lead to investors being more prepared to take risk and these particular currencies may become much more expensive to buy. If you have a pending currency transaction to carry out then feel free to contact me directly as I can save you money by getting you a better exchange rate and save you time and hassle with a proactive and high level of customer service too. Email me today djw@currencies.co.uk
You can protect yourself from adverse market movements by
using such tools as a stop loss order or forward contract, contact us today on
0800 328 5884 if you would like a more detailed explanation on how these work.
