Euro exchange rates are having a bad time of things so far, creeping close to parity against the US Dollar and losing almost 10 cents against Sterling over the past few months.
Personally, I feel 2017 will be a struggle for the Euro with lots of political and economic problems that are both current and predicted for next year.
Italy has been the latest country involved in the single currency to have problems, and next year there are a series of elections, referendums ahead and sure to be more economic struggles for a number of countries involved including Greece and Italy.
One of the other reasons that the Euro has struggled is down to the amount of money flowing from the Euro to the Dollar.
Since we saw a small interest rate hike over in the States the US Dollar has been back on the charge again. With EUR/USD being the largest traded currency pairing in the world positive news for the Dollar can lead to weakness for the Euro as investors shift money out of the Euro and back into the US Dollar.
With predictions of potential parity for EUR/USD exchange rates in the near future I would not be surprised to see this trend continue and for the Euro to have a fairly rocky time ahead.
We have very little in terms of data for the Euro to be impacted by this week. The most notable release will be and economic bulletin on Thursday morning. This bulletin is released two weeks after the most recent ECB meeting and may give some indication on fiscal plans going forward in 2017.
Clients looking to sell the Euro may wish to protect their position ahead of a challenging year for the Eurozone. Call us today to find out more about the different contract options available to you on 01494 725 353. Alternatively, you can email me at firstname.lastname@example.org.
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