Welcome to Pure FX's latest outlook for the euro to US dollar interbank exchange rate.
This tells you when it's an excellent time to exchange euros to US dollars, for your money transfer!
The common currency could accelerate versus the greenback!
The euro to US dollar interbank exchange rate has jumped by more than +1 cent in the past day, up to 1.1686.
Furthermore, looking ahead, the euro could fly higher against the US dollar. Here are 5 reasons why:
1. Germany's retail sales rose by +2.3% in April, said Statistisches Bundesamt Deutschland yesterday, above forecasts for +0.7%.
This may lift the euro, because this was the 1st rise in Germany's retail sales in 4 months, and the sharpest climb since October 2016.
2. Germany's unemployment rate unexpectedly fell -0.1% to 5.2% in May, said official data yesterday.
This could boost the common currency, because this is Germany's lowest unemployment rate since reunification in 1990.
3. Germany's inflation rocketed by +0.8% to 2.2% in last month, according to European statistics office Destatis on Wednesday.
This may strengthen the euro, because this is above the European Central Bank's inflation target of close-to-2.0%, thus lifting the odds that the ECB will lift interest rates.
4. ECB executive board member Sabine Lautenschlaeger said yesterday that "All the conditions for inflation to kick in are in place."
This could raise up the common currency, because Ms. Lautenschlaeger's comments also lift the odds that the Eurozone's central bank will hike interest rates sooner.
5. US GDP eased to +2.2% in Q1, said the US Bureau of Economic Analysis yesterday, below initial estimates of +2.3%.
This may weaken the US dollar, because America's economy grew slower than previously thought between January and March 2018.
Given all this, the common currency could accelerate against the US dollar in June!
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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 [email protected]