The euro fell slightly to $1.068, as recent US data reinforcing the view that interest rates will need to remain higher for longer boosted the dollar. While the US economy grew much less than expected, inflationary pressures remained elevated. Earlier in a week, the latest PMI survey revealed that Eurozone business activity grew in April by the most in nearly a year, with Germany returning to growth after nine months of contraction. On the monetary policy front, statements from ECB policymakers hinted at a willingness to initiate a reduction in borrowing costs as soon as June, with several officials suggesting the possibility of three rate cuts by the close of 2024.
The EURUSD increased 0.0005 or 0.05% to 1.0732 on Friday April 26 from 1.0727 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 April 26 of 2024.
The EURUSD increased 0.0005 or 0.05% to 1.0732 on Friday April 26 from 1.0727 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 1.03 in 12 months time.