What is the best day of the week to buy Euros?
Exchange rates depend on different aspects. Experts give the various point of views from their experiences and their analysis of data. The rates of various currencies are important to different people and make a huge impact in the markets.
The rates are a common factor in the world of international business and therefore their exchange is quite vital. When it comes to the exchange rates platform, it has been noticed that there are behavioural trends that affect how people buy and sell dollars and euros. Some of these behavioural trends are like a specific day of the week if a team that you love loses or wins or even the weather changes. But as long as it works for you then it is the best day to buy and sell Euros.
Best day of the week to buy Euros?
Monday Financial experts have done their research very well and came to a conclusion that Monday is actually the best day to buy euros. They have been collecting data for the past 14 years and it has shown that the exchange rates are lowest on Monday.
Over the last decade, financiers have been known to rush to the market on Monday so that they can buy euros at an affordable rate. The rates are known to lie between 2 to 3% lower than the normal exchange rate.
There is no specific day When it comes to the financial market, it is said to have no specific day that someone can choose to buy euros. This is simply because the exchange rates keep varying from day to day. People tend to buy euros when they have a low exchange rate, this is due to the varying prices of exchange rates.
Different people have different speculations, there are beliefs that go round and influence the way people think. It has come to the knowledge of most that whether Chelsea or arsenal wins might affect the euro and the pound. People are however advised to run to the markets and buy the euro the day after Chelsea gains a win. If Arsenal wins a game the euro price is expected to rise and therefore selling it will be more favourable than buying it. Many football fans who are financiers look more on which team is the winning team. This will influence their decisions and whether to buy euros or not depending on the speculations made by behavioural experts.
In any week the best day that one is advised to buy the euro is when the pound is strongest. This is because you will receive more euros when the GBP is stronger than the euro. There are ways in which one may find out when the pound is stronger than the euro and when it is advisable to go to the markets.
Final points on Best day of the week to buying Euros:
• Finding a broker that can send alerts about when is the best time to buy euros. This will help you find out the best time to exchange rates. The broker will be able to call or email you the best time for you to go buy euros since he will have your target at hand and know the appropriate times.
• Keeping tabs on BBC and Google so as to know the exchange rates. This means that you go to the internet and check the exchange rates of the currency that you are interested in. by looking at the exchange rates yourself and learning more about them then you are more capable of making decisions based on the rates you see on the internet.