- Analytics
- News and Tools
- Market News
- EUR/USD seen at 1.23 by end-2021 on global recovery - Westpac
EUR/USD seen at 1.23 by end-2021 on global recovery - Westpac
FXStreet notes that as a result of improved fiscal progress and with COVID-19 suppressed, the euro has appreciated by 5% against the US dollar in the last month. EUR/USD should see further gains to end-2021 on global recovery, accordingly, economists at Westpac forecast the pair at 1.23 by end-2021.
“The agreement reached by European lawmakers in late July to extend centrally funded grants and loans to individual Euro-area countries is seen as a game changer by markets with respect to both political cooperation and joint economic progress across Europe.
“This Euro move seems sustainable. Unless proven otherwise, we have to assume that the agreed policies will receive the approvals necessary by year end, and thereafter that the funds will make an array of projects possible across the continent, providing sustained gains for activity and employment.”
“With the balance of short-term risks skewed against the US, a further move higher for EUR/USD into early-2021 seems probable. Our baseline view calls for a modest move to around 1.20, though clearly a stronger gain is a distinct possibility. As we look further ahead to end-2021, the global recovery from COVID-19 will also favour the euro over the US dollar, with EUR/USD seen at 1.23 by end-2021 as a result.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
