With the euro rapidly declining, is anyone thinking about buying euros now? Why or why not?
razorbackfan started a poll - Buying Euros. Unfortunately, polls, like how the blogs used to be until NathalieF kindly rescued them for us (and we are ever grateful), do not get any "airplay" on the "Big Board" once they've made their initial splash. I thought her topic regarding buying euros was an excellent one, so in an effort to save her poll and provide the topic with more potential exposure, I thought I'd piggyback it with a discussion post, which unlike polls will continue to get "airplay" so long as there is interest.
So please tell us your thoughts (do it here, please to keep the subject alive) regarding this topic, and don't forget to do the poll too. Thanks.
Excellent idea to tag this along with the poll.
Sure wish the Euro would have been doing this last year as I would have gobble up quite a few of them for sure. Since no plan to visit Europe this year I think I may still get some on order from the bank soon since last I heard they don't go bad, unless it's like my luck goes sometime and all the countries start using their own currency like the Swiss!!
I Think 2 aspects are playing put on the $/€ rate,:
1. the Eurozones General economic weakness indicated by its decision to (at long last) undertake quantative easing, coupled with the Greek sovereign debt crisis and club-med indebtedness levels.
2. the rampaging strength of the US$ which is mowing down all that crosses its path (but especially the already-weakened €)
Having got used to an improving £, our recent woes against the $ do give us Brits pause for thought!
As for those who earn in US$, parity with the € appears to beckon. For those that hold out, the rewards of parity, or maybe a faceful of non-parity pie!!!!
Though I most likely will not travel to Europe again until 2016, I have been following the decline of the Euro closely for the past few months and may decide to speculatively purchase some for future use. I have also read economic reports that suggest that the Euro will fall below $1.00 in value. At that point I will become a buyer for future use. Stashing some Euros in my safe deposit box will provide a good "excuse" to travel to Europe in order to liquidate them.
forecasting currency direction is like forecasting stocks people get paid a lot of money and sometimes are right and sometimes are wrong. There are analysts who do believe the euro will continue to fall but for how long. A strong dollar helps and hurts as it makes our goods more expensive and Europe's less so you may see governments step in to support a higher price we will see. . I will be going to Europe this summer and have euros forom a prior trip at about 1.34 so I will likely buy more at a much lower level. If you buy now and don't need for say 6- 12 months you may win you may lose just like all the paid forecasters.