Euro Exchange Rate News Index

The euro dollar exchange rate is flat on Monday night's closing rate at 1.2884.
The euro pound exchange rate is 0.12 pct up at 0.8455.
The euro Australian dollar rate is 0.08 pct down at 1.3125.

Please be aware: The above quotes are taken from the wholesale spot markets - your bank will affix their own discretionary spread when passing on their rate. However, an independent FX provider will guarantee to undercut your bank's offer, thus delivering more currency. Please find out more here.

"EUR-USD is still struggling between 1.2850 and 1.29 and range-bound activity is likely to prevail again today. In a sense, EUR bears need a full break below 1.28 to take the field, while new genuine bids can emerge only above 1.2935," say UniCredit Bank in a morning currency forecast briefing to clients.  

In a morning currency forecast note Trading Central say:

"Our preference: Long positions above 1.2835 with targets at 1.293 & 1.2995 in extension.

"Alternative scenario: Below 1.2835 look for further downside with 1.279 & 1.2745 as targets.

"The pair has broken above an intraday declining trend line."

Long term outlook for euro to US dollar exchange rate

Piet Lammens, analyst with KBC Markets says he is pencilling further declines for the euro dollar exchange rate in 2013.

Lammens tells clients:


Live EUR/USD Chart


     

Exchange Rate
Forecasts 2013:

USD
GBP
EUR
AUD
NZD
JPY
CHF
CAD
SEK
NOK

"In a longer term perspective, we continue to favour the downside for EUR/USD. Since late March, markets used a series of disappointing US eco data to take profit on the standing EUR/USD decline.

"However, we don’t see a big case for a real trend reversal in favour of the euro. We consider the US eco weakness to be a soft patch while the European economy is certainly in worse shape.

"The May US payrolls report supports this view. The ECB stays in an easing mode even after the May rate cut. This was confirmed as ECB’s Draghi reactivated the debate on a negative deposit rate.

"In this context, interest rate differentials shouldn’t move in favour of the euro, even as the Fed remains cautious on the timing of the exit of the bond buying programme. We maintain our LT EUR/USD negative bias."