The Australian dollar against the Euro dollar exchange rate (AUDEUR) changes every second. This article shares bank forecasts to help you predict changes in the AUDEUR rate.
The 2022 Forecasts for the AUD to EUR are out now
With most of 2021 out of the way, attention turns to 2022.
Now that most economists have released their predictions for the Australian dollar, head here to find out the most up to date forecasts:
2021 AUD to EUR: Aussie dollar strength against the Euro
In 2021, the 'Big 4' major Australian banks predict the AUD to Euro to stay above 60 cents for the rest of the year. Currently the AUD/EUR exchange rate is consolidating around 64 cents. In 2020, the AUDEUR exchange rate plummeted to 11 year lows below $0.5400, only to bounce back above $0.6051.
AUDEUR Bank expert rate forecasts 2021
Source: International bank aggregate data
How will the AUDEUR perform in 2021?
Why is the AUDEUR rising?
- Australian economy bounces back relatively better than European economies
- Vaccine rollout reduces coronavirus globally despite new strains
- A weaker US dollar as the US economy struggles
- China’s demand for Australian and European commodities grow
- Economic growth on a global scale recovers
What do bank analysts think about the AUDEUR?
Most of the banks agree China’s demand will improve, government spending will remain high and a vaccine rollout, will support the Australian Dollar and the Euro. However, there is a risk of wider fluctuations this year than bank analysts are predicting in their forecasts.
5 Things to know about the AUDEUR
- AUD/EUR tells you how many Euros are needed to purchase one Australian dollar
- The AUD/EUR can fluctuate quickly. That’s why money exchange services offer rate alerts to help you get the best exchange rate
- It's heavily influenced by a weak US dollar and local handling of the coronavirus.
- The Eurozone/Euro area includes 19 of the Member States of the European Union (EU) that have adopted the Euro as their primary currency.
- The Australian dollar is known as a 'commodity currency' and is influenced by commodity prices.
AUD bank forecast major crosses for 2021
Latest Australian Dollar to Euro news
There are many different influences over the local currency, increasing commodity prices appear to be the key driver of the recent rise of the Australian dollar. Prices of commodities like oil, wheat and nickel have soared recently on the back of the war in Europe. This has increased the demand for ‘commodity’ currencies like the Aussie dollar, helping it move higher against most major currencies including the US dollar, Euro and British pound. According to the Reserve Bank Australia There has been a close relationship between the terms of trade and the value of the Australian dollar over […]
This article looks at what the banks are predicting for the AUD to EUR exchange rate over the long term in 2022.
In the past 12 months, the Australian dollar has been sent lower against US dollar, New Zealand dollar and the British pound. The exchange rate is also slightly down against the Japanese yen and Euro. It’s largely because of two large influences over the Australia dollar – interest rates and commodity prices. The strength or weakness of the Australian dollar exchange rate is also impacted by the value of the other currency. For example, if the US dollar gets stronger in its own right, then all other things being equal, the Australian dollar will weaken and the AUD to […]