Should post-Brexit clarity emerge in 2020, euro strength should follow and this would compound Aussie weakness, resulting in lower AUD/EUR rates.
Australian dollar to Euro bank forecasts
Some euro strength should follow a conclusion the recent exit of Britain from the EU and that currency strength would compound general Aussie weakness (see AUD/USD forecast).
Based on implied forecasts from Danske Bank and Westpac, AUD/EUR should be a lot lower in 2020, at rates between €0.56 and €0.60. Levels this low haven’t been seen since 2009.
You can read more about AUD cross-rate forecasts here AUD Trends and Forecasts for 2020.
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 Eurzone economies and this exchange rate is even more volatile than usual because of the uncertainties around Brexit.
What is a good AUD to EUR exchange rate?
This is a difficult question and the answer really depends on many factors. The best way to consider an exchange rate's relative value is to look at the rate's history.
The following table looks at the change in the AUD to EUR exchange rate to the present day for periods going back upto 10 years:
| AUD/EUR | Period to 29-May | Date | Rate |
|---|---|---|---|
| 0.1% ▲ | 1 Week | 22 May 2020 | 0.5996 |
| 0.4% ▼ | 30 Days | 29 Apr 2020 | 0.6026 |
| 1.7% ▲ | 90 Days | 29 Feb 2020 | 0.5902 |
| 3.2% ▼ | 1 Year | 30 May 2019 | 0.6204 |
| 13.8% ▼ | 5 Years | 31 May 2015 | 0.6962 |
| 12.1% ▼ | 10 Years | 01 Jun 2010 | 0.6830 |
Compare FX Providers and Banks for:
Get a Better Deal when you Send and Spend Abroad.