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    Currency Forecasts – Latest Updates

    Overview of forecasts for popular currencies together with rate trends updated hourly.

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    Age of cheap money coming to an end.

    Away from the frontlines, as people start to realise the world can largely live with Omicron, the age of cheap money seems to be at an end with central banks raising interest rates.

    Besides the unfolding worrying security situation in Ukraine, the next most discussed issue of the moment is definitely inflation, thanks to the added costs from higher energy and commodity prices.

    AUDUSD has fallen back to the key 0.7000 level the first half of May, this seems to be due derives to the escalating concerns over the impact of strict Covid lockdowns on Chinese companies.

    In early May the BoE’s (UK central bank) gloomy economic forecasts has increased pressure on Sterling. The pound plummeted against most currencies when the BoE raised rates by just 25bps contrasting with the rate hike of 50bps by the US Federal Reserve.

    Due to the Eurozone’s reliance on gas from Russia, the euro is vulnerable to the events in Ukraine with EUR/USD dropping to 1.05 — a 5-Year low at the end of April, whereas it had been approaching 1.15 in early February.

    The Japanese yen (JPY) continues to lose ground against the U.S. Dollar (USD). For reference, towards the end of April the USD/JPY hit 131 — a 20-Year Low for the yen.

    The yen weakness versus the greenback stems from market expectations that the Fed Reserve will soon start to hike rates aggressively, while the BOJ is committed to continuing yield curve control.

     

    US Dollar Forecasts

    The US Dollar has proven itself to be a safe haven amid the Ukraine-Russia conflict as investors seek refuge from the uncertainty.

     USD Outlook

    USD to EUR

    USD to EUR 90-Day Currency Trend Chart with Hi, Low, Up, Down AlertsUSD to EUR at 0.9467 is 2.8% above its 90-day average 0.921 with range 0.8830-0.9633.

    As the tragic Ukraine war continues USD/EUR is near 0.95, a 5 year high.

    Due to the Eurozone’s reliance on gas from Russia, the euro is very vulnerable to the events in Ukraine with EUR/USD dropping to around 1.06 by the end of April whereas it had been approaching 1.15 in early February.

     USD-EUR Forecasts


    USD to MXN

    USD to MXN 90-Day Currency Trend Chart with Hi, Low, Up, Down AlertsUSD to MXN at 19.84 is 2.2% below its 90-day average 20.28 with range 19.77-21.37.

    The peso has recovered into May strengthening from the nearly 22 per USD levels of November back under the key 20 value per green back, this is despite the continuing strength this year of USD.

    When uncertainty increases, traders tend to move quickly out of emerging market FX such as the peso first before looking for safe havens.

     USD-MXN Forecasts

     

    Canadian dollar Forecasts

    Before Russia invaded Ukraine the CAD was being supported by expectations of domestic interest rate hikes – and the oil price was a key driver of CAD strength at the start of the year.

    Since the start of the Russia/Ukrainian war the risk on-off market are pushing the Canadian dollar rate up and down in a range around 0.7850 to the US dollar (1 USD = 1.27 CAD).

     CAD Outlook

    CAD to USD

    CAD to USD 90-Day Currency Trend Chart with Hi, Low, Up, Down AlertsCAD to USD at 0.7812 is just 0.7% below its 90-day average 0.7869 with range 0.7664-0.8012.

    The Ukrainian crisis and the risk on-off market are pushing the Canadian dollar rate up and down in a range around 0.7850 to the US dollar (1 USD = 1.27 CAD).

    Volatile oil prices due to the Russian invasion of Ukraine have lead analysts to predict large price movements to continue for the Canadian Dollar.

     USD-CAD Forecasts


    CAD to EUR

    CAD to EUR 90-Day Currency Trend Chart with Hi, Low, Up, Down AlertsCAD to EUR at 0.7395 is 2.1% above its 90-day average 0.7246 with range 0.6914-0.7457.

    Into March CAD/EUR has trading above the 0.71 level (1 EUR = 1.4 CAD), this a few percent from where the rate ended 2021. The effect of Ukraine crisis on energy prices hurts the euro and helps the gas and oil exporting Canadian dollar.

     CAD-EUR Forecasts


    CAD to INR

    CAD to INR 90-Day Currency Trend Chart with Hi, Low, Up, Down AlertsCAD to INR at 60.66 is 1.1% above its 90-day average 60.02 with range 58.44-61.11.

    The Ukrainian crisis and the risk-off market for European energy supplies have pushed the Canadian dollar down against the Rupee.

    At the end of the January the CAD/INR exchange rate was heading towards the 59 mark down from its highs around 61 in October last year.

     CAD-INR Forecasts

     

    Australian Dollar Forecasts

    In late January and again in May the AUD slipped below the key 0.70 USD mark, its lowest level since mid 2020.

    However, AUD is widely expected to rise to US75¢ by the end of 2022 – the Aussie dollar is forecast to have a volatile year against a range of currencies.

     AUD Outlook

    AUD to USD

    AUD to USD 90-Day Currency Trend Chart with Hi, Low, Up, Down AlertsAUD to USD at 0.7063 is 2.9% below its 90-day average 0.7273 with range 0.6854-0.7577.

    In mid May AUDUSD fell below the 69¢ level (it has since recovered back above 70¢), over escalating concerns over the Covid lockdown on Chinese companies.

     AUD-USD Forecasts


    AUD to SGD

    AUD to SGD 90-Day Currency Trend Chart with Hi, Low, Up, Down AlertsAUD to SGD at 0.9744 is 1.9% below its 90-day average 0.9935 with range 0.9573-1.0298.

    AUD/SGD hit a recent peak of 1.03 in early April but the Aussie/Sing dollar rate has since dropped to below 0.96 as optimism goes missing around China’s COVID policies.
 Before this latest blow, commodity-linked currencies such as the Aussie dollar had been moving up as Russia’s tragic actions in Ukraine push up demand for oil and other natural resources.

     AUD-SGD Forecasts


    AUD to EUR

    AUD to EUR 90-Day Currency Trend Chart with Hi, Low, Up, Down AlertsAUD to EUR at 0.6687 is near its 90-day average 0.6695 with range 0.6335-0.6948.

    The effect of Ukraine crisis on energy prices hurts the euro and helps the gas and oil exporting Aussie and have helped the AUD/EUR rate to rise back to 4 year highs trading around the 0.66 level (1EUR=$A1.5).

    The euro has dropped 10 cents in one month and is down 2.7 per cent this year.

     AUD-EUR Forecasts

     

    British pound Forecasts

    The pound hit a 3-Year LOW in mid May near 1.22 against the greenback (1 USD = 0.81 GBP) — on the bleak outlook for the UK economy and after the Federal Reserve started its long anticipated increase of interest rates.

    Also hanging over the head of the pound is the thread of a EU-UK trade war over Brexit.

     GBP Outlook

    GBP to USD

    GBP to USD 90-Day Currency Trend Chart with Hi, Low, Up, Down AlertsGBP to USD at 1.2489 is 3.6% below its 90-day average 1.2955 with range 1.2197-1.3602.

    In mid May the GBP/USD exchange rate dropped below 1.22 after the Federal Reserve raised interest rates combined with the continuing impact of the Ukraine war on commodity prices.

    The UK central bank raised rates by 25bps contrasting with the rate hike of 50bps by the US Federal Reserve. In conclusion, the BoE’s (UK bank) gloomy economic forecasts increased pressure on Sterling.

     GBP-USD Forecasts


    GBP to AUD

    GBP to AUD 90-Day Currency Trend Chart with Hi, Low, Up, Down AlertsGBP to AUD at 1.7683 is just 0.7% below its 90-day average 1.7816 with range 1.7254-1.8952.

    In February and March the GBP/AUD exchange rate dropped on the impact of the Ukraine situation on commodity prices — this was good for AUD and bad for GBP.

    During April and May the pound-aussie rate improved back towards 1.78, but as we move through 2022 the prospect of more Australian interest rate rises sooner than expected could also boost the Aussie dollar vs Sterling.

     GBP-AUD Forecasts

     

    Euro Forecasts

    At the start of the tragic Russian invasion of Ukraine the euro sank to parity against the safe-haven Swiss franc hitting 0.9985 francs per euro on March 7th, the lowest since January 2015.

    By the end of April the euro fell to a 5-Year low around 1.05 against the US dollar and the short term news for the single currency is all negative. Global bans against Russian oil and gas and uncertainty over ECB interest rate plans have prompted predictions in the currency markets for parity for the euro against the greenback this year.

     EUR Outlook

    EUR to USD

    EUR to USD 90-Day Currency Trend Chart with Hi, Low, Up, Down AlertsEUR to USD at 1.0563 is 2.8% below its 90-day average 1.0864 with range 1.0381-1.1325.

    As the tragic Ukraine war continues USD/EUR is near 0.95, a 5 year high.

    Due to the Eurozone’s reliance on gas from Russia, the euro is very vulnerable to the events in Ukraine with EUR/USD dropping to around 1.06 by the end of April whereas it had been approaching 1.15 in early February.

     USD-EUR Forecasts


    EUR to GBP

    EUR to GBP 90-Day Currency Trend Chart with Hi, Low, Up, Down AlertsEUR to GBP at 0.8469 is just 1.0% above its 90-day average 0.8388 with range 0.8258-0.8583.

    The BoE’s (UK central bank) gloomy economic forecasts has increased pressure on Sterling. In early May the pound plummeted when the BoE raised rates by just 25bps contrasting with the rate hike of 50bps by the US Federal Reserve.

     GBP-EUR Forecasts

     

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