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    AUD to EUR Forecasts

    The inflating effect of the Russian invasion of Ukraine on energy prices hurts the euro and helps the Aussie pushing up the AUD/EUR rate.

    Updated: Jan 16, 2023  
     

    1 AUD = 0.6499 EUR
    Sell AUD  →  Buy EUR
    AUD to EUR at 0.6500 is 1.1% above its 90-day average 0.6432 with range 0.6287-0.6577.
    |
      1 EUR = 1.5387 AUD
     
    AUDEUR :
    90-DAYHIGH4d
    1-DAY-0.8%

    AUD to EUR Outlook

    AUD/EUR reached a 5-year high in late August near 0.70, but has fallen back below 0.64/0.65 into 2023 – more due to AUD weakness than euro strength.

    With the Eurozone’s reliance on gas from Russia, the euro remains vulnerable with Putin’s so called Russian ‘special military operation’ in Ukraine.

    DateAUD/EURChangePeriod
    17 Jan 2023
    0.6475
    0.3% 2 Week
    02 Nov 2022
    0.6459
    0.5% 3 Month
    31 Jan 2022
    0.6294
    3.2% 1 Year
    01 Feb 2018
    0.6426
    1.1% 5 Year
    02 Feb 2013
    0.7636
    15% 10 Year
    05 Feb 2003
    0.5455
    19% 20 Year
    AUD/EUR historic rates & change to 31-Jan-2023

     

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    Factors that affect the Australian dollar to Euro exchange rate

    The effect of Ukraine crisis on energy prices hurts the euro and helps the gas and oil exporting Aussie dollar.

    Before the war in Ukraine started to affect the Euro, changing expectations around US Federal Reserve policy and a less positive outlook for global growth weighed on the Aussie to Euro rate last year dropping to 0.61 in September.

    Note that forecasts and predictions for the AUD/EUR exchange rate change all the time, affected by news events and relative sentiment towards the Australian and Eurozone economies and this exchange rate is even more volatile than usual because of the uncertainties around the pandemic.

    The Aussie dollar rebounded from around US62¢ in October and November on the suggestion that the RBA would slow the pace of interest rate hikes.

    Early in 2023 the Aussie is trading near US70¢, however economists are divided as to whether this change in fortunes for the Australian dollar will continue throughout the year.

    AUD Forecasts


     

    The euro has recovered since falling below the US dollar exchange rate in September, aided by lower energy prices, reduced recession fears, and a more aggressive European Central Bank. The euro has risen 13% over the past 3.5 months, aided by a weaker US dollar.

    EUR Forecasts

     

     

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    Posted under: #Forecasts #AUD #EUR
     

    Disclaimer: Please note any provider recommendations, currency forecasts or any opinions of our authors should not be taken as a reference to buy or sell any financial product.