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Which direction do you think USD\EUR will go in next 6 months?

  • 29-02-2012 4:14pm
    #1
    gbh2930
    Closed Accounts Posts: 10 ✭


    I have savings held in a USD account which I expect to need back into EUR by mid-summer or autumn at the latest). But I'm struggling to understand what direction the EUR/USD rate is moving in?

    Up? Down? Relatively static?

    Am I better off converting it into an Irish Savings account now (e.g. Rabo) or wait until the summer? Which is less risky?


Comments

  • #2
    unclebill98
    Registered Users, Registered Users 2 Posts: 3,816 ✭✭✭unclebill98


    <
    that way.....

    Are we talking lots of USD? Ball park figure?

    Have you priced up with rates today?

    Do you like the € amount?

    Yes, transfer funds.

    Depending on amount you could book a rate with an Irish bank.


  • #3
    mprgst78
    Closed Accounts Posts: 84 ✭✭mprgst78


    gbh2930 wrote: »
    I have savings held in a USD account which I expect to need back into EUR by mid-summer or autumn at the latest). But I'm struggling to understand what direction the EUR/USD rate is moving in?

    Up? Down? Relatively static?

    Am I better off converting it into an Irish Savings account now (e.g. Rabo) or wait until the summer? Which is less risky?

    Get out of all paper assets and buy silver.


  • #4
    revz
    Registered Users, Registered Users 2 Posts: 478 ✭✭revz


    Just in relation to this, I'm heading over to the States in the summer, would anyone who knows their stuff about the currency market recommend changing my € to $ now?
    Or could the rate improve in the next 3 months?
    Thanks in advance.


  • #5
    pjmn
    Registered Users, Registered Users 2 Posts: 1,072 ✭✭✭pjmn


    Exchange Rates

    Current End Mar End Jun End Sep
    EUR/USD 1.32 1.27 1.27 1.27

    Apologies for formatting - I cut and paste this in from Bank of Ireland's economist monthly update....

    http://corporatebanking.bankofireland.com/fs/doc/publications/general-publications/bank-of-ireland-forecasts-feb-2012.pdf


  • #6
    coylemj
    Registered Users, Registered Users 2 Posts: 25,622 ✭✭✭✭coylemj


    The answer is - there is no answer. Nobody knows which direction currencies are going to go and even if there is such a person, you can be damn sure he isn't wasting his time providing free financial advice to strangers.

    Be sensible and hedge which for a private consumer like you means split the money into quarters and exchange it in four stages between now and when you need to travel. That way you'll avoid being stung by any major spikes in the wrong direction.


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  • #7
    HowFinancial
    Registered Users, Registered Users 2 Posts: 71 ✭✭HowFinancial


    Today it stands at 1.32, in 6 months Euro will probably decrease against dollar to 1.25


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