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The euro is having a rough time in 2022, with its value dropping 8.80% against the US dollar since February - an unwelcome reversal after months of stability!
In September, the euro made a historic drop to levels unseen since 2002. This astonishing slide was caused in part by the shutdown of Nord Stream 1 - an energy source powering much of Europe's economy - leaving many wondering what might be next for the eurozone. After a period of turbulence on the currency market, the ECB provided some much-needed relief when it upped interest rates for another consecutive month. This gave people hope and restored confidence in the euro, sending its value soaring yet again.
Since mid-October the euro has seen a robust rise against the US dollar, but inflation within Europe is at an all time low. The growing cost of living in Eurozone countries might put an end to this surge eventually and many nations are predicted to find themselves struggling with recession by 2023 – according to projections from European Commissioners.
With investors desperate for shelter from economic and geopolitical storm clouds, the U.S. dollar has become something of a superhero - bolstered by its status as counter-cyclical safe haven with an added boost from its hawkish Federal Reserve (Fed). This 'dollar dominance' has wreaked havoc on the euro and most other currencies that rely on the greenback, making America's currency king in this turbulent time. The Euro is in for a rough ride. With current inflation and the economic struggles within the eurozone, experts believe we can expect to see more decline from Europe's currency in 2023. In a podcast from the LiteFinance blog by https://www.litefinance.org/blog/authors/jana-kane/ you can find out the EUR/USD exchange rate forecast not only for the next year, but also up to 2026 and beyond.
Economic forecasts are subject to constant change, as new market developments can dramatically alter the current landscape. To stay ahead of the game, savvy investors must keep up with these ever-evolving conditions!
In September, the euro made a historic drop to levels unseen since 2002. This astonishing slide was caused in part by the shutdown of Nord Stream 1 - an energy source powering much of Europe's economy - leaving many wondering what might be next for the eurozone. After a period of turbulence on the currency market, the ECB provided some much-needed relief when it upped interest rates for another consecutive month. This gave people hope and restored confidence in the euro, sending its value soaring yet again.
Since mid-October the euro has seen a robust rise against the US dollar, but inflation within Europe is at an all time low. The growing cost of living in Eurozone countries might put an end to this surge eventually and many nations are predicted to find themselves struggling with recession by 2023 – according to projections from European Commissioners.
With investors desperate for shelter from economic and geopolitical storm clouds, the U.S. dollar has become something of a superhero - bolstered by its status as counter-cyclical safe haven with an added boost from its hawkish Federal Reserve (Fed). This 'dollar dominance' has wreaked havoc on the euro and most other currencies that rely on the greenback, making America's currency king in this turbulent time. The Euro is in for a rough ride. With current inflation and the economic struggles within the eurozone, experts believe we can expect to see more decline from Europe's currency in 2023. In a podcast from the LiteFinance blog by https://www.litefinance.org/blog/authors/jana-kane/ you can find out the EUR/USD exchange rate forecast not only for the next year, but also up to 2026 and beyond.
Economic forecasts are subject to constant change, as new market developments can dramatically alter the current landscape. To stay ahead of the game, savvy investors must keep up with these ever-evolving conditions!
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