Today the markets are coming to a close after another eventful day. We have seen figures from the UK showing that unemployment has remained unchanged and European construction figures showing a considerable contraction. This has changed markets as the euro has ended up stronger, but that contradicts these results so what has changed to strengthen the euro?
More news around the euro debt crises has come to the market that has added strength and again this news story has overshadowed what would normally be big news. It shows again how surprising the markets are and what can be strongly predicted can change quickly. If you are in the position either buying or selling euro’s I would suggest exchanging when the rates are good rather than trying to squeeze more out. Many say more is lost through indecision than no decision.
Later this week we still have ECB’s monthly report, EU Consumer confidence and UK Retail figures being released. All of these could continue these large swings so if you do want assistance feel free to contact us today using the enquiry form.
Speak to you soon.