USD to EUR Forecasts
In 2021 the Euro has mostly dropped versus the greenback, except for Q2, mainly due to the expectation of inflation and an increase in US interest rates. This has pushed up the USD exchange rate against most currencies.
SupportUSD/EUR outlook
In addition should risk sentiment remain fragile, there could be continued demand for USD as a safe haven. Therefore, USD/EUR could gain higher.
| USD/EUR was | Change | Period |
|---|---|---|
0.8607 04 Oct 2021 | 0% ▲ | 2 Weeks |
0.8487 20 Jul 2021 | 1.5% ▲ | 90 Days |
0.8535 18 Oct 2020 | 0.9% ▲ | 1 Year |
0.9112 19 Oct 2016 | 5.5% ▼ | 5 Years |
0.7214 21 Oct 2011 | 19.4% ▲ | 10 Years |
1.1237 23 Oct 2001 | 23.4% ▼ | 20 Years |
Euro to US dollar Forecasts
Swiss bank UBS see the EUR/USD rate to rise near 1.27 (USD/EUR below 0.78) by the end of 2021 as the world recovers from the pandemic and has less need for USD as a safe haven.
Other optimistic forecasters, believe the ECB’s support of the eurozone economy is working, they suggest a strong upside for the euro against the U.S. dollar this year and that EUR/USD will test new highs in 2021.
Dollar strength and German political uncertainty sees the Eurozone single currency on the decline and at 1 YEAR LOWS versus the greenback touching the 1.15 level vs the greenback.
There will be a close eye kept on Eurozone inflation data on October 29, any upside surprise could support the euro.
EUR OutlookThe USD had a strong month in September, outperforming all the G10 currencies. The gains can be attributed to more ‘hawkish’ commentary from the US Federal Reserve, especially in comparison to the European Central Bank.
According to OFX the USD trend for October is unclear.
USD OutlookLoading rates...
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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.