Hope you had a great trading year in 2016 and that you’re resting up for a profitable 2017
Here were the final forex trading levels at the close of 2016:
- EUR/USD 1.0517
- USD/JPY 116.69
- GBP/USD 1.2340
- USD/CHF 1.0190
- USD/CAD 1.3441
- AUD/USD 0.7208
- NZD/USD 0.6934
I spoke to CNBC in November about where I thought the euro would close for the year:
Adam Button, currency analyst at ForexLive, warned that enthusiasm for the Eurozone project as a whole has gone and it is a matter of time before the euro is to hit parity against the dollar.
“The euro is extremely vulnerable at the moment and so I expect to see euro-dollar at around 1.05 by year end,” Button told CNBC in a phone interview.
“You can expect euro-dollar parity in 2017 and from there you can even get to 0.95 and 0.93 levels pretty easily… I mean, predicting what will happen next, especially in Italy, is impossible, but predicting that it will be messy and volatile is easy,” he concluded.