In contrast to my colleague Stephen, I actually think the next week or two will be far from quiet for the Euro! Whilst the net movement may be quite modest as seemingly all three of the pound Dollar and Euro battle to see who can post the worst economic figures, I think there will be big intra-day swings in the currency rates available. For example Tuesday morning sees UK inflation data so sterling could be vulnerable here, and even more so after the release of the UK unemployment figures released on Wednesday as I expect unemployment to rise- quite how much by will determine how weak the pound gets. The same morning sees the release of the Eurozone GDP and I think this is the perfect market to utilize stop loss and limit orders given the volatility. For example if you are looking to sell Euros for 1.19 or below you could set a limit at the point to try and squeeze a bit more out of the market, but at the same time you may place a stop loss just over 1.20 to make sure if the EU GDP is particularly scary you don’t miss out by too much and protects you from a major fall in exchange rate.
Towards the end of the week we have UK retail sales figures and there is a raft of major US data out all week including US CPI data, all of which in my view is likely to have a major impact on respective currency rates against the single currency. As such if you are looking to buy or sell Euros against any major currency then this week is likely to be very important. Should you have a requirement and want to get the best exchange rate then please feel free to contact Colm at firstname.lastname@example.org quoting ERF as the heading. If you provide a brief overview of what you need, I will obviously do my best to help with an idea of the best rates and contract types to suit your exact requirements.