Still Bearish?
The euro has been dragged lower by speculation that the US will restrict trade with the region's export orientated economies, leading the European Central Bank to cut interest rates more aggressively.
January this year, the euro, near its weakest level in two years, faces mounting risks from Trump's tariff plans, diverging Fed-ECB policies, and geopolitical uncertainty. Analysts warn parity with the dollar could return by early 2025.
Overall, near term outlook will stay bearish as long as 38.2% retracement of 1.1213 to 1.0176 at 1.0572 holds in case of another recovery. In the bigger picture, immediate focus is on 61.8 retracement of 0.9534 (2022 low) to 1.1274 (2024 high) at 1.0199.
The Euro US Dollar Exchange Rate - EUR/USD is expected to trade at 1.03 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, they estimate it to trade at 1.02 in 12 months time.
January this year, the euro, near its weakest level in two years, faces mounting risks from Trump's tariff plans, diverging Fed-ECB policies, and geopolitical uncertainty. Analysts warn parity with the dollar could return by early 2025.
Overall, near term outlook will stay bearish as long as 38.2% retracement of 1.1213 to 1.0176 at 1.0572 holds in case of another recovery. In the bigger picture, immediate focus is on 61.8 retracement of 0.9534 (2022 low) to 1.1274 (2024 high) at 1.0199.
The Euro US Dollar Exchange Rate - EUR/USD is expected to trade at 1.03 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, they estimate it to trade at 1.02 in 12 months time.
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