This article looks at what the banks are predicting for the AUD to EUR exchange rate over the long term in 2023.
The 2024 AUD EUR Forecasts are out now
With most of 2023 out of the way, attention turns to 2024.
Now that most economists have released their predictions for the AUD EUR exchange rate, head here to find out the most up to date forecasts:
AUD to EUR
Major Australian banks have a similar predictions for the Australia dollar to the Euro - reflected in their AUD to EUR forecasts in 2023. Generally, their outlook for the Australian dollar is slightly more optimistic compared to the EUR.
AUDEUR forecasts from bank majors 2023
Source: Multinational bank aggregate data
AUD to EUR Predictions in 2023
In the short term
While major banks predicted the AUD to EUR to rise ever so slightly in the long term, there are plenty of influences on both the Australian dollar and the Euro that have an impact in the short term. These include:
- Tourism commenced earlier in Europe than in Australia, but Australia's smaller economy bounces faster and greater than in Europe
- Central bank policies to stimulate the economy is more effective in Australia than in Europe
- Australia and Europe are at greater risk of inflationary pressures, there’s only so much the government can do to help
- China’s demand for Australian commodities grows relatively more than European commodities
What do bank analysts think about the AUD EUR in the long term?
- ANZ says there’s too much uncertainty and expects the AUD to EUR exchange rate to end 2023 at 0.6100
- Westpac anticipates continued focus on Central Bank policy, predicting the AUD to EUR rise to around 0.6700 by the end of 2023
- NAB predicts the AUD to EUR forecast exchange rates for the end of next year to decline towards 0.6200
The best time to exchange AUD to EUR
If you are travelling to Europe and need to buy Euros, the best AUD to EUR exchange rate is when it is high. Alternatively, if you are selling Euro's currency either in cash or through a transfer, you want the rate to be as low as possible.
Whether you are buying or selling Euros, no one can tell you when this "right" time is, but you can track the rate for free.
You set the rate you would like and let us to the work. We will email you when the AUD gets within the range you would like to buy Euro dollars.
Latest AUD EUR news
The Australian dollar is facing a mixed outlook against the Euro in 2024. The Australian dollar (AUD) has struggled against the Euro (EUR) in recent months. The EUR, which is the official currency of 19 of the 27 European Union (EU) member countries, peaked above €65.6¢ in January 2023. But it then saw a consistent decline, falling below the €60¢ barrier in the second half of the year. There are mixed forces at play which affect the value of the Euro, which covers a diverse area including the major economies of Germany, France and Italy
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