When should I exchange my Euros? (Tom Holian)

GBP EUR Starts the Week with 1.1800 Test

With Sterling Euro trading between 1.20 and 1.21 this week all eyes will be on the data released tomorrow morning for Eurozone 4th Quarter GDP at 10am. The Eurozone has been struggling with growth recently so if there is a downgrade we could see a good opportunity to buy Euros and I think we could see 1.21 on the markets.

We also have some Dollar news out tomorrow afternoon which is likely to have an impact on GBPEUR rates.

When we see Dollar strength this often results in Euro weakness so my prediction is that the data is the US will be good leading to Sterling hitting 1.21 tomorrow.

Eurozone Retail Sales are due for Thursday as well as this month’s ECB interest rate decision and there is an outside chance that the ECB may cut rates marginally to an historic low leading to Euro weakness.

If you want to take advantage of the upcoming movement then contact me directly Tom Holian [email protected]