The euro strengthened to $1.127 on Wednesday afternoon after data showed the Eurozone manufacturing sector contracted less than initially thought in June as several countries in the region reopened their economies, while German registered unemployment rose less than expected last month. At the same time, stronger than expected factory activity data from the US boosted demand for riskier currencies. Investors await any new developments about a EU recovery plan to be discussed as soon as July, while remained concerned about a spike in coronavirus cases. On Tuesday, the European Union announced an initial "safe list" of countries from which the bloc will allow non-essential travel, excluding the United States as the number of infections continue to increase at record rates.
Historically, the Euro 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. Latvian Lats - data, forecasts, historical chart - was last updated on July of 2020.
The Euro Dollar Exchange Rate - EUR/USD is expected to trade at 1.12 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1.11 in 12 months time.