Analysis of recent Dollar → Euro forecasts for 2024. We collate forecasts from respected FX analysts together with the latest US dollar to Euro performance and trends.
Forecasts for USD to EUR
Based on recent exchange rate analyst forecasts and currency market updates, the USD to EUR exchange rate has seen the US dollar (USD) gaining strength as investors reduced their expectations for Federal Reserve interest rate cuts. The positive performance of the US economy, specifically the blowout January jobs report, has delayed potential rate cuts and shifted market expectations towards a delay in rate reductions to at least June. This has contributed to the USD maintaining its momentum against the euro (EUR).
On the other hand, the EUR has faced pressure due to European Central Bank (ECB) rate cut speculations and concerns surrounding a potential Eurozone economic downturn. While there were signs of improvement in German business sentiment, the negative correlation between the euro and the US dollar, coupled with expectations of ECB rate cuts, have weighed on the EUR. Despite the cautious optimism for the EUR/USD pair in 2024, driven by potential US economic slowdown and monetary policy adjustments, uncertainties surrounding ECB rate cuts and Eurozone economic performance continue to influence the EUR's trajectory.
Moreover, with the USD to EUR exchange rate currently at 30-day highs near 0.9269 and the OIL to USD price at 90-day highs near 87.50, fluctuations in both the USD and oil prices may further impact the exchange rate dynamics between the USD and EUR in the near future. FX analysts suggest monitoring upcoming US data releases, ECB policy decisions, and Eurozone economic indicators for insights into potential shifts in the USD to EUR exchange rate.
@bestfxrates : USD gains strength against EUR as Fed rate cut expectations dwindle. US economy's robust performance pushes rate reductions beyond June, impacting USD/EUR dynamics. Despite EUR pressure from ECB rate cut speculations, the pair's cautious optimism remains. Watch for market shifts as USD hits 30-day high of 0.9269 and oil prices soar. #USDEUR #CurrencyUpdate #ForexMarket
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EUR
+0.4%
📈1M
USD to EUR is at 30-day highs near 0.9269, just 0.7% above its 3-month average of 0.9202, having traded in a very stable 3.3% range from 0.9037 to 0.9339
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Date
USD/EUR
Change
Period
14 Mar 2024
0.9189
0.9% ▲
2 Week
29 Dec 2023
0.9045
2.5% ▲
3 Month
29 Mar 2023
0.9223
0.5% ▲
1 Year
30 Mar 2019
0.8911
4% ▲
5 Year
31 Mar 2014
0.7260
27.7% ▲
10 Year
02 Apr 2004
0.8206
13% ▲
20 Year
USD/EUR historic rates & change to 28-Mar-2024
Will the US dollar rise against the Euro?
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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