The Aussie dollar has struggled against most currencies in mid 2021 including the Euro - falling to yearly lows.
However, increased gas prices heading into the northern winter have helped the AUD/EUR rate to rise back above the 0.63 level.
04 Oct 2021
20 Jul 2021
18 Oct 2020
19 Oct 2016
21 Oct 2011
23 Oct 2001
AUD/EUR in late September is hovering around 0.62, well down from its high of 0.65 in February.
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 emergence of Evergrande and other significant roadblocks such as energy shortages in Europe and China impacting the global economic recovery throughout September prompted a shift in the underlying risk narrative, causing unfavourable conditions for commodity currencies like the AUD. AUD Outlook
Dollar strength and German political uncertainty sees the Eurozone single currency on the decline and at 1 YEAR LOWS versus the greenback touching the 1.15 level vs the greenback.
There will be a close eye kept on Eurozone inflation data on October 29, any upside surprise could support the euro.EUR Outlook
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.