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10 Reasons USD May Exceed Its 30-Week High Versus EUR in June 2018

Market Commentary10 Reasons USD May Exceed Its 30-Week High Versus EUR in June 2018
10 Reasons USD May Exceed Its 30-Week High Versus EUR in June 2018
Image credit: Cozinata.

Welcome to Pure FX's latest outlook for the US dollar to euro interbank exchange rates.

This tells you what may happen to the US dollar versus the euro, looking ahead, for your money transfer!

The greenback jumps against the common currency!

The US dollar to euro interbank exchange rate has hit 0.8619 today, its highest since November 8th 2017, or 30 weeks.

What's more, looking forward, the buck could continue to climb against the euro. Here are 10 reasons why:

  1. The US dollar may rise, because financial markets increasingly think that the Federal Reserve will lift US interest rates 3 more times in 2018, up to +2.5%.

  2. The greenback could strengthen, because US durable goods orders jumped by +0.8% in April, said the US Census Bureau on Friday, above forecasts for +0.5%.

  3. The buck may jump, because global money managers are investing in American assets, as a safe haven from financial instability in Turkey and Argentina.

  4. The US dollar could pick up, because a planned summit between President Trump and North Korea's leader Kim-Jong Un may be back on track, say US government sources.

  5. The greenback may fly higher, because the price of crude oil looks set to fall, as Saudi Arabia and Russia discuss easing supply curbs, thus benefiting America's shale oil producers.

  6. The euro could weaken, because Italy's president Sergio Mattarella looks set to call snap elections, to overcome instability between the League and Five Star political parties.

  7. The common currency may fall, because Spain's socialist party has promised to call snap elections, if it wins a motion censuring Spain's conservative prime minister for corruption.

  8. The euro may decline, because financial markets reckon that, if Italy's and Spain's political woes continue, the euro has a lot further to fall.

  9. The common currency could drop, because the European Central Bank (ECB) looks set to extend its vast monetary stimulus beyond September, given the political uncertainty in Italy and Spain.

  10. The euro may lose out, because if the ECB continues its stimulus, the Eurozone's central bank will inject more huge sums of euros into the financial system, thus devaluing the euro.

With all this in mind, the US dollar to euro interbank exchange rate could rise above its 30-week high, in June 2018!

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Please bear in mind, this article is Pure FX’s opinion only and does not constitute advice. Moreover, the exchange rates referred to in this article are the interbank rates, which are the rates at which banks and financial institutions buy and sell currency to each other. Therefore these exchange rates cannot be accessed by individuals or SMEs, and are not the same rates that Pure FX can offer. To get a free exchange rate quote, call us on +44 (0) 1494 671800, or email peter.lavelle@purefx.co.uk.

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