Analysis of recent Aussie → Euro forecasts for 2024. We collate forecasts from respected FX analysts together with the latest Australian dollar to Euro performance and trends.
Forecasts for AUD to EUR
According to recent exchange rate analyst forecasts, the Australian Dollar (AUD) has been facing pressure due to mixed business confidence and global rate expectations, leading to a weakening trend against the Euro (EUR). The AUD has struggled through February amidst changing global rate expectations and falling commodity prices, trading within a range of 0.64 to 0.66 against the USD. On the other hand, the Euro (EUR) has been influenced by cooling German CPI and concerns about Eurozone economic weakness, potentially leading to rate cuts by the European Central Bank (ECB). The EUR/USD pair is forecasted to see a bullish trend, moving from 1.07 at the end of 2023 to 1.15 by the end of 2024, driven by potential rate cuts in the US and uncertainties surrounding ECB policy.
While the AUD to EUR exchange rate currently sits around 0.6045, just 0.6% below its 3-month average of 0.6082, it has been relatively stable in a range from 0.5991 to 0.6182. However, with the AUD facing challenges from global rate expectations and lower commodity prices, it may continue to experience pressure against the EUR. Additionally, the EUR's performance could be affected by Eurozone economic concerns and potential rate cuts by the ECB, especially with cooling German inflation figures impacting the single currency. It's worth noting that movements in oil prices, which are currently trading around 85.11 USD, 5.8% above the 3-month average, could also influence the EUR due to its impact on the Eurozone economy.
@bestfxrates : AUD faces headwinds against EUR, trading around 0.6045. Mixed Aus business confidence & commodity price dip weigh on $AUD. EUR outlook hinges on ECB response to cool German CPI & Eurozone worries. Eyes on oil prices & global rates' impact on AUD to EUR trends. #CurrencyUpdate #Forex
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Date
AUD/EUR
Change
Period
04 Mar 2024
0.5995
0.6% ▲
2 Week
19 Dec 2023
0.6156
2% ▼
3 Month
19 Mar 2023
0.6285
4% ▼
1 Year
20 Mar 2019
0.6242
3.4% ▼
5 Year
21 Mar 2014
0.6585
8.4% ▼
10 Year
23 Mar 2004
0.6107
1.2% ▼
20 Year
AUD/EUR historic rates & change to 18-Mar-2024
Will the Australian dollar rise against the Euro?
It is almost impossible to predict what an exchange rate will do in the future, the best approach is to monitor the currency markets and transact when an exchange rate moves in your favour.
To help with this you can add AUD/EUR to your personalised Rate Tracker to track and benefit from currency movements.
Forecasts disclaimer: Please be advised that the forecasts and analysis of market data presented on BestExchangeRates.com are solely a review and compilation of forecasts from various market experts and economists. These forecasts are not meant to reflect the opinions or views of BestExchangeRates.com or its affiliates, nor should they be construed as a recommendation or advice to engage in any financial transactions. Read more