Next week the ECB will give forward guidance in regards to the Quantitative easing program according to ECB members Praet, Hansson and Knot. As reported in many articles last year, European economic data impressed and speculation at the beginning of the year rose in regards to the QE program would be removed by the end of the year.
For people that are not familiar with quantitative easing (also known as QE), QE is essentially the introduction of new money into an economy. If the QE program comes to an end you would expect the euro to strengthen as there are less euros in circulation therefore they are more valuable.
For people that are selling euros, there is a strong argument to suggest that next Thursday could provide a fantastic opportunity.
However its not all positive news for euro exchange rates. Now that Five star and Lega have been sworn in they plan to make tax cuts and increase spending which is not supported by the EU. The Italians have a debt problem as it is, if this increases I expect the Italians will be asking for debt relief at every opportunity. This story has the potential to have a major influence on exchange rates therefore regular updates are needed if you are buying or selling euros in the future.
If you are buying or selling euros this week, month or year and I have not covered the currency pair you are trading, I would recommend emailing me with the currency pair (EURUSD, EURGBP, EURAUD) and the reason for the transfer (company goods, property purchase) and I will response with my forecast and the options available to you email@example.com. Alternatively if you would like to discuss your requirements over the phone call 01494-787478 and ask to be put through to Dayle Littlejohn.
** If you are already using a brokerage and would like to know if you are receiving the best rates possible email me with the exact figures and I will reply with our live price. This will take you a few minutes and in the past I have saved clients thousands! **