Euro Forecasts for 2022
Immediate forecasts for the euro are being driven entirely by the Russian invasion of Ukraine and the impact on energy prices. This continually updated article reviews EUR bank forecasts and popular cross-rate trends.
BER ResearchEuro outlook
By the end of April the euro fell to a 5-Year low around 1.05 against the US dollar and the short term news for the single currency is all negative. Global bans against Russian oil and gas and uncertainty over ECB interest rate plans have prompted predictions in the currency markets for parity for the euro against the greenback this year.
| Date | EUR/USD | Change | Period |
|---|---|---|---|
06 May 2022 | 1.0548 | 0.2% ▲ | 2 Week |
19 Feb 2022 | 1.1322 | 6.7% ▼ | 3 Month |
20 May 2021 | 1.2225 | 13.6% ▼ | 1 Year |
21 May 2017 | 1.1203 | 5.7% ▼ | 5 Year |
22 May 2012 | 1.2712 | 16.9% ▼ | 10 Year |
25 May 2002 | 0.9198 | 14.9% ▲ | 20 Year |
Will the Euro Weaken or Strengthen?
As the tragic Ukraine war continues USD/EUR is near 0.95, a 5 year high.
Due to the Eurozone’s reliance on gas from Russia, the euro is very vulnerable to the events in Ukraine with EUR/USD dropping to around 1.06 by the end of April whereas it had been approaching 1.15 in early February.
You can also read our full Foreign Exchange Guide to the Eurozone.
GBP to EUR
GBP to EUR at 1.1820 is just 0.9% below its 90-day average 1.1922 with range 1.1651-1.2109. GBP/EUR Rates
The BoE’s (UK central bank) gloomy economic forecasts has increased pressure on Sterling. In early May the pound plummeted when the BoE raised rates by just 25bps contrasting with the rate hike of 50bps by the US Federal Reserve.
AUD to EUR
AUD to EUR at 0.6660 is just 0.6% below its 90-day average 0.6698 with range 0.6335-0.6948. AUD/EUR Rates
The effect of Ukraine crisis on energy prices hurts the euro and helps the gas and oil exporting Aussie and have helped the AUD/EUR rate to rise back to 4 year highs trading around the 0.66 level (1EUR=$A1.5).
The euro has dropped 10 cents in one month and is down 2.7 per cent this year.
CAD to EUR
CAD to EUR at 0.7371 is 1.7% above its 90-day average 0.725 with range 0.6914-0.7457. CAD/EUR Rates
Into March CAD/EUR has trading above the 0.71 level (1 EUR = 1.4 CAD), this a few percent from where the rate ended 2021. The effect of Ukraine crisis on energy prices hurts the euro and helps the gas and oil exporting Canadian dollar.
Loading rates...
| Provider | Amounts | Rate | Cost | |
|---|---|---|---|---|
|
|
|
|||
|
|
|
|||
|
|
|
|||
|
|
|
More Forecasts
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.