You may already be aware that currency markets are extremely volatile.
Recent economic and political events have meant big changes to currency exchange rates, which in turn could have a significant effect on your business.
Exchange rates are usually more volatile in December and early January - with all the uncertainty surrounding global political developments this year, we could be in for a bumpy ride.
While we are enjoying the festive break, the foreign exchange market is very thinly traded, as traders are away from their desks. This means there could be even more volatility in currency markets at this time, as the trades that do go through will have a bigger impact on prices. These conditions create very favourable opportunities for the savvy currency buyer to target preferential exchange rates - now's the time to plan ahead and be prepared.
They say fortune favours the brave. In the financial markets, they also say that more money is lost through indecision rather than through a bad decision. So, act now!
Your volatility calendar for December - plenty of global announcements and data releases still to come this month...
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||Bank of Canada Official Interest Rate
||European Central Bank Press Conference
||UK Consumer Price Index (CPI) year-on-year
||US Federal Open Market Committee Official Interest Rate
||Bank of England Official Interest Rate
||German Information and Forschung (Ifo) Business Climate
||Australia Mid-year Economic and Fiscal Outlook
||US Final Gross Domestic Product (GDP) quarter-on-quarter
||US Core Durable Goods Orders month-on-month
to speak to your Halo Financial Currency Consultant now to discuss how you can gain from currency volatility and how we can help you target your best exchange rate over the Christmas period.
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