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Euro Exchange Rate Forecasts: "We remain EUR bears, targeting 1.25 into year‐end"

A look at the currency wholesale exchange rates shows:

  • The Euro to US Dollar exchange rate has recovered some ground over the course of Friday; EUR/USD is quoted at 13238 at 11:33.
  • The EUR/GBP exchange rate is 0.08 pct higher at 0.8547.
  • The EUR/AUD exchange rate is 0.01 pct higher at 1.4833.
  • The EUR/NZD rate is 0.17 pct higher at 1.7080.

NB: The above are spot market quotes; your bank will subtract their own spread when passing their retail rate. However, an independent FX provider will guarantee to undercut your bank's offer, thus delivering you more currency. Please learn more here, or use our custom wholesale vs retail currency converter.

Today's Euro exchange rate forecasts

First up is Camilla Sutton at Scotiabank who says the Euro is, "finally falling victim to bearish developments and the easing of EM outlaws into EUR.

"German unemployment was weaker than expected with the economy losing 7k jobs in August but with a flat unemployment rate of 6.8%. Regional CPI was generally soft, which should help to offset some of the fears of rising oil prices.

"Intraday risk lies with a speech by the Bundesbank’s Weidmann titled “the currency union as stability union”. We remain EUR bears, targeting 1.25 into year‐end."

Luc Luyet at MIG Bank says a break below crucial support opens up the possibility of further declines:

"EUR/USD broke cleanly under the support area defined by 1.3298 and the low of its rising channel. Focus now turns to the key low at 1.3190 (02/08/2013).
best euro rates

"Our expectations of strong resistance in the region between 1.3417 (19/06/2013 high) and 1.3452 (20/08/2013 high) has been initially realised. We now wait to see if this resistance can hold over the medium term. If so, a return to the lows near 1.2746 would be anticipated over time."

Emmanueal Ng at OCBC Bank says:

"Against a somewhat heavy backdrop after perforating 1.3300 yesterday, we look for the EUR-USD to find support levels around the 1.3200 zip code. Latest EZ data points have also failed to spark discrete EUR strength and US-centric (or Syrian) developments may hold sway intra-day."

Gareth Berry at UBS says:

"Thursday’s sharp sell-off stalled just above the support at 1.3206, which is close to the retracement support at 1.3186. A close below this would trigger further decline. Resistance is at 1.3343 ahead of 1.3452."

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