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
The recent update on the USD to EUR exchange rate reflects a mix of factors influencing both currencies. The US Dollar (USD) has seen a rally, driven by unexpected acceleration in inflation, leading to speculation on a delayed rate cut from the Federal Reserve. Analysts predict a potentially bullish trend for the EUR/USD pair in 2024, with the Euro (EUR) facing pressure due to cooling German inflation and the possibility of rate cuts by the European Central Bank. The EUR/USD pair has been trading near its 7-day highs around 0.9188, staying within a stable range recently.
Moreover, the Eurozone economic concerns and the impact of monetary policies are expected to play a significant role in the EUR performance throughout the year. With the US economy showing strength and the Eurozone facing potential recession risks, the market anticipates shifts in interest rates from both the Federal Reserve and the European Central Bank. Additionally, the EUR can be influenced by oil price movements, which have been quite volatile, as seen in the recent Brent Crude OIL/USD data showing a price of 85.11, up 5.8% from its 3-month average. Traders and businesses involved in USD to EUR transactions should closely monitor these developments to make informed decisions regarding their currency exchanges.
@bestfxrates : USD rallies amid inflation spike, deferring Fed rate cut expectations. EUR faces ECB rate cut speculations as German inflation cools. EUR/USD trades near 7-day high of 0.9188. As Eurozone risks loom and oil prices sway, follow rate decisions closely for future USD/EUR moves. #ForexUpdate #USDEUR
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Date
USD/EUR
Change
Period
04 Mar 2024
0.9213
0.2% ▼
2 Week
19 Dec 2023
0.9109
1% ▲
3 Month
19 Mar 2023
0.9363
1.8% ▼
1 Year
20 Mar 2019
0.8750
5.1% ▲
5 Year
21 Mar 2014
0.7250
26.9% ▲
10 Year
23 Mar 2004
0.8123
13.2% ▲
20 Year
USD/EUR historic rates & change to 18-Mar-2024
Will the US dollar rise against the Euro?
It is almost impossible to predict what an exchange rate will do in the future, the best approach is to monitor the currency markets and transact when an exchange rate moves in your favour.
To help with this you can add USD/EUR to your personalised Rate Tracker to track and benefit from currency movements.
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