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    USD to EUR Forecasts

    Divergent interest rates and energy costs between the eurozone and the US have dramatically impacted the euro in 2022.

    Updated: Dec 05, 2022  
     

    1 USD = 0.9189 EUR
    Sell USD  →  Buy EUR
    USD to EUR at 0.9186 is 3.1% below its 90-day average 0.9483 with range 0.9161-1.0257.
    |
      1 EUR = 1.0882 USD
     
    USDEUR :
    90-DAYLOW1d

    USD/EUR outlook

    In early December the dollar dropped to 94 against the euro after rising to a 20-year high of 1.04 in late September, as markets predict that the aggressive interest rates hikes by the Fed to reign in inflation may be over.

    However, due to the Eurozone’s reliance on gas from Russia, the euro will remain vulnerable while Putin’s so called Russian ‘special military operation’ in Ukraine continues.

    DateUSD/EURChangePeriod
    17 Jan 2023
    0.9267
    0.7% 2 Week
    02 Nov 2022
    1.0190
    9.7% 3 Month
    31 Jan 2022
    0.8905
    3.4% 1 Year
    01 Feb 2018
    0.7993
    15.2% 5 Year
    02 Feb 2013
    0.7340
    25.4% 10 Year
    05 Feb 2003
    0.9230
    0.3% 20 Year
    USD/EUR historic rates & change to 31-Jan-2023

     

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    Euro and USD Outlooks

    The euro has recovered since falling below the US dollar exchange rate in September, aided by lower energy prices, reduced recession fears, and a more aggressive European Central Bank. The euro has risen 13% over the past 3.5 months, aided by a weaker US dollar.

    EUR Forecasts


     
     

    Economists expect the US dollar’s strength over the past year to reverse in 2023 as the Fed’s interest rate hikes cycle to an end.

    A clear reflection of this is that the US Dollar index (measure of the USD strength against basket of currencies) which has pulled back from 20 year highs.

    USD Forecasts


     

    Factors that impact the Euro exchange rate

    In 2022 the Ukrainian crisis and its risks for European energy supplies had pushed the euro down decades lows near and even below parity against the US dollar.

    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.

    The European Central Bank in October again raised its benchmark deposit rate, this time by 75 basis points, taking the EUR deposit rate to 1.5%, and indicated further rate hikes are to be expected. These recent hikes are the first in over a decade for the Eurozone single currency.

     

     

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    Posted under: #Forecasts #EUR #USD
     

    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.