Should post-Brexit clarity emerge in 2020, euro strength should follow possibly resulting in lower AUD/EUR rates.
The Euro has struggled in late November against the Aussie dollar with AUD/EUR approaching 6-MONTH HIGHS (0.62) due to the COVID-19 second-wave outbreak with France, Italy, and Germany – the Eurozone’s three largest economies – entering lockdowns once more.
The EUR enjoyed gains off the back of recent USD sell-off but the economic outlook for the bloc continues to be of concern. Economists have warned that the fresh round of COVID-19 restrictions imposed could plunge the bloc back into contraction for the final quarter of the year. November Currency Update
The currency markets have been pushing down the Euro out of fear that poor economic results from the Eurozone will continue through the end of the year.
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.
You can read more about AUD cross-rate forecasts here AUD Trends and Forecasts for 2020.
This is a difficult question and the answer really depends on many factors. The best way to consider the current AUD-EUR relative value is to check the change in the exchange over a range of periods to the present day. The below table does this for periods going back 10 years.
24 Nov 2020
|1.3% ▼||1 Week|
01 Nov 2020
|1.5% ▲||30 Days|
02 Sep 2020
|1.3% ▼||90 Days|
02 Dec 2019
|0.8% ▼||1 Year|
03 Dec 2015
|9% ▼||5 Years|
04 Dec 2010
|17.6% ▼||10 Years|
AUD/EUR 10 year historic rates & change to 01-Dec-2020 : 0.6108