Neil Camenker Shares Thoughts on Euro Currency Trends

(Newswire.net — August 22, 2016) Camarillo, CA — August 22, 2016) – Having started up a number of highly successful international firms, Neil has played a crucial role in many foreign exchange transactions over the years. When someone of his renown and with his extensive record of accomplishments shares his thought on the rise of the Euro against the US dollar therefore, it would be wise for those involved in foreign exchange to take notice. 

One of Neil’s most outstanding accomplishments in the field of foreign exchange is the development of proprietary algorithms focusing on the behavior of the Euro versus the Dollar and the Pound Sterling. Developed specifically for technical traders, the system has become an essential tool in the modern-day foreign exchange market.

Another of Neil’s noteworthy accomplishments in the financial sphere is the establishment of PayPoint USA. A merchant fund intended for small and medium businesses in need of alternative financing and growth and development capital, PayPoint is headed by Neil as company CEO. Years before, Neil also started up a wireless business from scratch, expanding the initially modest venture into a thriving retail chain with branches in 10 states. After selling off the chain in 1999, Neil went on to develop and sell three merchant accounts portfolios with major credit card processors. Neil Camenker is currently the owner of a hugely successful Visa/MasterCard purchasing gateway.

Here’s what Neil has to say about the recent performance of the Euro versus the Dollar:

The recent rise of the Euro against the US Dollar is a significant development to say the least, and it could cause some long-lasting effects that we may not appreciate until many months from now. Representing a 5-week high against the Dollar, the Euro has become quite aggressive as of late, peaking at higher than $1.12 in the first few days of August. We’re already seeing the effects of this development, as numerous investors scale back their expectations in time for the upcoming Federal Reserve interest-rate increase. Concurrently, we have begun to see a slowing down in the growth of what is still the largest economy in the world. For more insight on these estimates, visit here.

The figures paint a dire picture of the implications that these developments will have on the global economy. In early August, the shared EUR-USD currency registered +0.0975% and was traded for $1.1222 in New York. This represents a 0.5% increase from the previous day’s transactions when the Euro was traded for $1.1164. At the same time, the ICE index DXY, pegged the dollar–previously at -0.08%–down to 0.7% at 95.0750.

These developments couldn’t have happened at a less opportune period, with investors still coming to terms with lackluster US economic growth during the second quarter. In results released in late July, Q2 growth was pegged at 1.2%, which was well below the expected growth consensus of 2.5%.

All these factors are concurrent with the decline of manufacturing activity in the US, which slowed down–albeit modestly–in July. With US economic statistics painting such a disappointing picture, investors are now setting their sights on July job reports. To discover more information about Neil’s perspective, visit: http://neilcamenkerbusiness.com