TayFx

Euro - USD | Shot Bias to Parity Forecast and Pre UK Open

Short
FX:EURUSD   Euro / U.S. Dollar
In the third week of August, the euro fell to approximately $1.02, as rising fears about an economic slowdown, particularly in Europe and China, and hawkish views by certain Fed members drove the dollar higher. The euro has been trading at parity since early July, as there are growing signals that the Eurozone economy is entering a recession at a time when inflation is still at record highs, the energy crisis is far from finished, and the ECB is preparing to raise borrowing costs further. Germany must limit its gas use by one-fifth to avert a devastating shortage this winter, according to the nation's top network regulator, and the country is nearing the third stage of an emergency plan that involves gas rationing to businesses. Meanwhile, the ECB is expected to raise rates by 50 basis points in September. The Euro Dollar Exchange Rate ( EUR/USD ) achieved an all-time high of 1.87 in July 1973. The euro was first launched as a currency on January 1, 1999. However, a weighted average of the prior currencies may be used to mimic synthetic historical prices going back much deeper. EUR/USD statistics, projections, and historical charts were last updated in August of 2022.


The Euro Dollar Exchange Rate - EUR/USD is expected to trade at 1.01 by the end of this quarter, according to our global macro models and analysts expectations. Looking forward, we estimate it to trade at 0.98 in 12 months time.

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