June could be a very testing month for the Euro with some key news on the latest developments with the Italian election. We had the election back in March but we are still waiting for the conclusion, coalition talks between the anti-establishment parties have unsettled the markets and caused the Euro to weaken.
If you are looking to buy Euros this situation has presented some real opportunity but the general impression is this could only deteriorate in the future. This is because the parties seem to be headed for a political or economic outlook which does not fit the profile of the Eurozone which has been progressing towards closer economic and political integration.
The market is gently leaning towards an impression of a Eurozone which is no longer as closely tied as expected, as certain countries already shackled by the problems caused from the Eurozone debt crisis, struggle to meet the high expectations being placed on them.
Political concerns are also going to be mixing with economic concerns too as investors try to gauge the next direction for the economy too with the ECB looking to either raise interest rates or potentially withdraw their QE program. The European Central Bank has been using Quantitative Easing to stimulate their economy but this is not necessarily working as much as we hoped.
If you have a transfer to make in the future then understanding the market and all of your options in advance is vital to your future strategy. Whilst no one can say 100% what will happen, we can suggest trends and patterns which will provide a useful piece of information for clients looking for guidance.
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