Global leaders rally at Camp David in the States over the next two days with European problems set to take the centre stage of the agenda. With political uncertainty not only driving Euro-exchange rates but also the global currency market investors will certainly be watching eagerly.
Something of particular note will be European Commission President Barroso’s and European Council President Von Rompuy’s explanation as to the Unions response to the crisis. With the situation in the Euro zone now having a global impact it only seems right that leaders worldwide can provide some insight into potential solutions and a reasonable course of action moving forward. Under similar logic with the imminent next round of elections in Greece (and the instant impact it will have on European market confidence) I personally believe an EU wide referendum should be held – at very least it will give leaders a mandate upon which to act.
The motto for the 38th G8 summit is “working together” and should be an opportune time to discuss new avenues and collude to work on a mutually beneficial course of action. Whilst the summit is unlikely to rectify EU problems in the short term it will answer many of the questions investors are asking within the marketplace and could bring back some much needed market confidence. Make sure you speak to your broker either today or on Monday for an update as the currency market and Euro-Exchange rates could well effect both buying and/ or selling opportunities.