The euro climbed past $1.051, moving further away from a two-year low of $1.046 on Nov 21, after ECB official Isabel Schnabel cautioned against excessive rate cuts. She warned that borrowing costs are nearing neutral levels, and over-easing could waste policy options, prompting markets to lower expectations for ECB rate reductions through 2025. The debate over the ECB’s approach intensifies as inflation nears the 2% target amid Eurozone economic challenges. Global uncertainty grows with President-elect Donald Trump’s protectionist trade agenda, including proposed tariffs of 10% on Chinese goods and 25% on imports from Mexico and Canada. In France, bond risks surged to levels last seen during the Eurozone debt crisis, fueled by fears that PM Michel Barnier may fail to pass next year’s budget, adding to investor concerns about political instability in the region.
The EURUSD increased 0.0029 or 0.28% to 1.0519 on Wednesday November 27 from 1.0490 in the previous trading session. Historically, the Euro US Dollar Exchange Rate - EUR/USD reached an all time high of 1.87 in July of 1973.The euro was only introduced as a currency on the first of January of 1999. However, synthetic historical prices going back much further can be modeled if we consider a weighted average of the previous currencies. Euro US Dollar Exchange Rate - EUR/USD - data, forecasts, historical chart - was last updated on November 27 of 2024.
The EURUSD increased 0.0029 or 0.28% to 1.0519 on Wednesday November 27 from 1.0490 in the previous trading session. The Euro US Dollar Exchange Rate - EUR/USD is expected to trade at 1.07 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1.05 in 12 months time.