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    EUR to USD 2024 Forecasts

    Analysis of recent Euro → Dollar forecasts for 2024. We collate forecasts from respected FX analysts together with the latest Euro to US dollar performance and trends.

     

    Forecasts for EUR to USD

     

    Recent exchange rate forecasts for the EUR to USD currency pair show a mixed outlook. Despite some upbeat economic data in the Eurozone, particularly in industrial production and GDP growth, the euro (EUR) has lacked a clear direction. The market is anticipating the European Central Bank (ECB) to potentially start cutting rates in June, especially with Eurozone inflation remaining steady at 2.4% in April. This expectation, coupled with some broad US dollar strength, has seen the EURUSD pair trade lower, hitting a low of 1.06. As the ECB's interest rate decision is not until June 6th, May's focus will likely be on the Consumer Pricing Index (CPI) inflation data due on May 31st, which could lead to further euro weakness.

    On the other hand, the US dollar (USD) has experienced a recent slump following cooling US inflation in April, leading to increased bets on Federal Reserve rate cuts. However, strong US inflation data in early April pushed back expected rate cut timelines from June to September. The upcoming focus for USD investors will be on the latest US initial jobless claims data to gauge the health of the labor market. If US CPI data remains high, it could support the USD, but elevated CPI levels might delay rate cuts until September. The market is closely monitoring May's CPI data and Personal Consumption Expenditure data for further guidance on the Fed's monetary policy stance.

    With EURUSD trading at 1.0868, just above its 3-month average, and oil prices impacting the euro's movements, which have seen Brent Crude OIL/USD at 83.44 below its 3-month average, the currency market remains sensitive to economic data releases and central bank decisions in both the Eurozone and the US. FX analysts suggest that developments in inflation, interest rate decisions, and economic indicators will play crucial roles in determining the future direction of the EURUSD exchange rate in the coming weeks.

     
    @bestfxrates : EURUSD faces uncertainty as markets weigh mixed Eurozone data against ECB rate cut expectations. Steady at 2.4% inflation, eyes on May 31st CPI for Euro direction. USD balances rate cut bets with job data watch. Analysts eye inflation & policy cues for EURUSD moves, now at 1.0868. #ForexUpdate #EURUSD

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    EUR to USD Market Data

    Euro (EUR) to US dollar (USD) market data - latest interbank exchange rate, trend, chart & historic rates.

     
    1 EUR =
    1.0880We compare provider deals to this wholesale mid-market rate. Read more
    USD
    +0.1%
    1M
    EUR to USD is at 30-day highs near 1.0884, just 0.8% above its 3-month average of 1.0798, having traded in a very stable 3.1% range from 1.0619 to 1.0948
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    Compare & Save - Euro to US dollar

    Exchange rates can vary significantly between different currency exchange providers, so it's important to compare Euro (EUR) to US dollar (USD) rates from different sources before making a conversion.

    Use our EUR to USD calculator to see how much you could save on your international money transfers. makes it easy to compare the Total Cost you are being charged on Euro to Dollar currency rates and the possible savings of using various providers.

     
    DateEUR/USDChangePeriod
    03 May 2024
    1.0768
    1% 2 Week
    17 Feb 2024
    1.0777
    1% 3 Month
    18 May 2023
    1.0775
    1% 1 Year
    19 May 2019
    1.1165
    2.6% 5 Year
    20 May 2014
    1.3700
    20.6% 10 Year
    22 May 2004
    1.2020
    9.5% 20 Year
    EUR/USD historic rates & change to 17-May-2024
     

    Will the Euro rise against the US dollar?

    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.

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    Read our Currency guide to the United States - a practical currency and money guide to travel, living and doing business in the United States with the US dollar.

     
     

    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