Seeing Euro $$ going up against USD, is it worth putting my money into an Euro account? I am not talking about big money, merely 30,000. The commission in the trading probably eats away the gain, am I right?? thank you!
2007-10-26 03:50:09 · 9 answers · asked by Tsu-Fan C 1 in Business & Finance ➔ Investing
Yes commissions will eat into the gains. Remember that foreign exchange ususally does not move that much, and the recent moves have been historic in nature. Unless you think that the US economy is going into a recessions, with possible staglfation, its probably better to invest in securities.
2007-10-26 03:56:23 · answer #1 · answered by redwine 6 · 0⤊ 0⤋
I am a currency trader in the UK, although the company I work for doesnt speculate.
If it was me, I would not be investing in the Euro - the rate is at an all time low - remember with currency you want to buy high and sell low. Also, the Euro is likely to strengthen further because the European Central Bank are tipped to raise interest rates soon, so probably a bad investement as things are likely to get worse I would say.
I am guessing you are in the States, so at the moment best to keep it in Dollars. When the rate goes down, then sell the dollars for another currency.
PS Yes the trading fees would probably eat up most of any profit you would make anyway, unless you are trading hundreds of thousands!!
2007-10-26 03:58:09 · answer #2 · answered by Itchy1977 4 · 0⤊ 0⤋
Trading in Euro would be great. Just leave it for a while. I kinda suspect the dollar would always fall to the Euro.
It's a wise decision. I don't know how much the commision is but I think the term of the trade has something to do with the commission.
2007-10-26 03:55:07 · answer #3 · answered by Ayo A 5 · 0⤊ 0⤋
Since no one can accurately predict currency trends, it is basically a gamble.
You can buy foreign bonds in euros, and minimize your commission.
Currencies will always flucuate, and the reasons are very complex. At a point in time however, they will reverse, as an economic certainty. For example, a bottle of French wine that cost $10.00 5 years ago, cost $16.00 today in the US.
A bottole of California wine that cost 10 euros in Europe 5 years ago, costs 7 euros now. That is just because of the currency change. How do you think that will effect the demand of each bottle of wine? That will happen with every item produced in Euros and Dollars. Boeing planes become much cheaper than Airbus planes. Eventually, demand for US goods goes up, helping our economy, and Europe goods plummet. Then the currencies will start reversing.
2007-10-26 04:08:33 · answer #4 · answered by patrick 6 · 0⤊ 0⤋
Yes.
Open a brokerage account at Zecco and buy the ETFs FXE and FXB.
Zecco is FREE!
2007-10-26 09:40:59 · answer #5 · answered by Anonymous · 0⤊ 0⤋
you would be making of venture on the skill efficacy of action via the improved eu countries to help the weaker ones. this is, in effect, of venture on politics fairly than economics. in case you think of you are able to win this form of political guess, then evaluate finding out to purchase Euros. yet predicting the habit of governments is plenty much less specific than predicting the climate.
2016-12-18 17:48:02 · answer #6 · answered by Anonymous · 0⤊ 0⤋
yes, cause euro more value than dollar it is now europe country money you can earn more if you change dollar.
2007-10-26 03:57:03 · answer #7 · answered by Anonymous · 0⤊ 1⤋
try www.everbank.com - you can buy a CD with a minimum deposit of $10,000.
2007-10-28 20:34:58 · answer #8 · answered by anonymous 2 · 0⤊ 0⤋
"not big money,merely 30,000".........id love to know what big money is to you!
2007-10-26 03:52:54 · answer #9 · answered by foxychick 4 · 0⤊ 1⤋