The US Dollar-to-Euro forecast is an indication of where technical and fundamental analysts think the EURUSD price may be in the future. You can use these exchange rate forecasts to help you decide if now is the right time to buy Euros with US Dollars, or if you should wait until the price improves.
US Dollar to Euro forecast highlights
- EURUSD weakened persistently over past quarter (1.100 to 1.020) to lowest level since Nov-2022
- The decline is attempting to establish short-term floor, near parity level
- Macro fundamentals favouring USD; watch to buy more Euros on a further decline
How has US Dollar performed against the Euro recently?
EURGBP is the most traded currency pair in the FX market. Hectic trading activities flow from constant interactions between the largest economy (US) and the biggest trading bloc (EU).
In terms of value these two currencies are (roughly) even. Recent price levels ranged from 1.055 to the north and 1.020 to the south. Right now it takes 1.033 dollars to convert into one Euro.
But not so long ago, back in 2022, the currency was trading at parity: One USD for one Euro.
After a rebound in 2023, where prices gained about 15 percent, EURUSD has weakened persistently in recent weeks. Underperforming relative macro performance between the economies is punishing the Euro against the dollar. US is growing faster; EU slower.
At this time, prices are attempting to establish a floor. Whether this will be able to turn the persistent tide of selling remains questionable.
Is it a good time to buy Euros with US Dollars?
Since October, EURUSD has dropped from 1.100 to 1.020-1.030. This is one of the largest declines in months.
If you need plenty of Euros in the near term, ie, buying EUR from USD, taking advantage of the recent drop could be a good idea – as the rate is trading near its lowest level since November 2022.
Alternatively, if you do not need the Euros urgently, another strategy is to wait further and see if the rate will drop further. Parity is just nearby.
In financial markets, instrument prices like stock prices are always attracted to large round number levels, especially when backed by firm downward momentum.
Will EURUSD get stronger?
This depends on the performance of Eurozone.
According to the global institution IMF, the Eurozone is expected to grow at 1.0 percent (real) this year. In comparison, the US economy is expected to grow at a blistering 2.7 percent. This is more than twice as fast as the Eurozone.
That’s why the market is favouring the USD at the moment. Moreover, the interest rate differential favours the greenback.
However, the pace of decline in EURUSD is slowing. Perhaps a floor is being slowly established just above 1.000, as supply-demand returns to a more equilibrium state. But for technical floors to hold the rebound must be backed up fundamentals. The market is awaiting confirmation signals.
Lastly, EURUSD may be impacted by the looming tariff war between US and the Euro.
What is the EURUSD forecast in weeks?
Most FX brokers are expecting the EURUSD rate to extend its fall in the coming weeks.
This is logical since macro data are weighing on the Euro. For example, the bulk of rate predictions in a month’s time lies at 1.020 (see below). The forecast range widens as we move further into the future. Market uncertainty increases over time.
Of course we can’t rule out an oversold technical rebound from time to time. But EURUSD’s long-term bear trend (favouring USD) is clear to most traders.
Source: fxstreet.com
Where is the best place for buying large amounts of Euros from US Dollars
There are two different ways people buy Euros from US dollars:
- Through a currency broker – when transferring money abroad
- Through a forex broker – when speculating on the price of currency
You can use this comparison table of US currency transfer companies to see how many currencies they offer, what the minimum USD transfer is and if they offer forwards and currency options as well as when they were established. You can either visit each currency broker individually or use our currency quote comparison tool to request multiple exchange rates.
Or, if you are more interested in trading EURUSD you can compare US forex brokers here.
How many Euros does 1 US Dollar get at the live exchange rate?
At the che current EURUSD exchange rate 1 USD is worth 0.96212 EUR which is a change of -0.64% from the previous day’s closing price. Over a week GBPEUR is -0.64%, compared to its change over a month of -0.76% and one year of 3.72%.
EURUSD exchange rate data is updated every 15 minutes.
Jackson is a core part of the editorial team at GoodMoneyGuide.com.
With over 15 years industry experience as a financial analyst, he brings a wealth of knowledge and expertise to our content and readers.
Previously Jackson was the director of Stockcube Research as Head of Investors Intelligence. This pivotal role involved providing market timing advice and research to some of the world’s largest institutions and hedge funds.
Jackson brings a huge amount of expertise in areas as diverse as global macroeconomic investment strategy, statistical backtesting, asset allocation, and cross-asset research.
Jackson has a PhD in Finance from Durham University and has authored nearly 200 articles for GoodMoneyGuide.com.
You can contact Jackson at jackson@goodmoneyguide.com
