Euro Forecasts for 2021
Longterm forecasts for the euro change all the time, affected by news events and relative sentiment towards the overall Eurozone economy. This continually updated article reviews EUR bank forecasts and popular cross-rate trends.
BER ResearchEuro outlook
| EUR/USD was | Change | Period |
|---|---|---|
1.1283 04 Jan 2022 | 0.4% ▲ | 2 Weeks |
1.1654 20 Oct 2021 | 2.8% ▼ | 90 Days |
1.2078 18 Jan 2021 | 6.2% ▼ | 1 Year |
1.0659 19 Jan 2017 | 6.2% ▲ | 5 Years |
1.2918 21 Jan 2012 | 12.3% ▼ | 10 Years |
0.8810 23 Jan 2002 | 28.5% ▲ | 20 Years |
Will the Euro Weaken or Strengthen?
For the euro 2021 was a poor year against the greenback. At the start of the year EUR/USD was at the 1.2200 level ($1=.82€) but by June was being solidly sold off eventually finishing at 1.1300 by year end ($1=.89€).
But to be fair, the market’s expectation for a rise in US inflation and thus interest rates has pushed up the USD exchange rate against most currencies.
You can also read our full Foreign Exchange Guide to the Eurozone.
GBP to EUR
GBP to EUR at 1.2004 has risen 1.5% above average of its 90-day range 1.1641-1.2004. GBP/EUR Rates
The pound sunk in late September to but has recovered after Boris called the army out to drive the fuel trucks.
The outlook for the pound for October is very uncertain due to rising inflation, slowing growth and unemployment, the combination of which could create a nightmare scenario for the Bank of England Monetary Policy Committee.
OFX predict the GBP could range between 1.14 – 1.18 EUR in October.
AUD to EUR
AUD to EUR at 0.6346 is just below average of its 90-day range 0.6186-0.6502. AUD/EUR Rates
Changing expectations around US Federal Reserve policy and a less positive outlook for global growth have weighed on the Aussie to Euro rate this year.
However, increased gas prices heading into the northern winter have helped the AUD/EUR rate to rise back above the 0.63 level.
CAD to EUR
CAD to EUR at 0.7063 has risen 1.6% above average of its 90-day range 0.6852-0.7063. CAD/EUR Rates
In November CAD/EUR has risen to around the 0.70 level as the energy crisis hurts the euro and helps the gas and oil exporting Canadian dollar.
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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.