The dollar is climbing against other currencies, including the euro. Some analysts expect a return to parity soon.
Euro/Dollar (EuroDoll)
Published on Wednesday November 13, 2024 par Denis Lapalus
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Euro/dollar parity (1 euro = 1 dollar) coming soon?
The euro has continued to slide against the dollar since the election of Mr. Trump. This Wednesday, November 13, 2024, the euro displays a quote of 1.057 dollars. This is a low level since November 2023. The US consumer price index for the month of October did not hold any unpleasant surprises, reinforcing expectations of a new rate cut by the Fed by a quarter point next month.
Euro/US Dollar exchange rate
Change €uro/Dollar
Euro exchange rate expressed in Dollar, generally called parity.
- Lowest rate, October 26, 2000: €1 = $0.8252
- Highest rate, July 15, 2008: €1 = $1.6038
| Periods | EUR to USD exchange rate | Variations in % (vs. previous period) |
|---|---|---|
| (FranceTransactions.com calculations) | ||
| 13/11/2024 | 1.0583 | -0,38 % |
| 12/11/2024 | 1.0623 | -0,29 % |
Fears of a return of inflation in the USA
The policy put forward by the new elected official of the White House is highly inflationary according to experts. Thus, investors note that American market interest rates continue to rise, while the FED lowers its key rate over the course of its meetings. Thus, contrary to what some media wrongly announce, the reduction in key rates from a central bank does not mean that credit rates for individuals are also falling. Quite the opposite is happening in the USA. Mortgage rates are rising again, placing the real estate market in a crisis situation.
“This is the worst scenario we can think of for the euro“, tells ‘Bloomberg’ Mark McCormick, global head of foreign exchange strategy at TD Securities, who expects that Euro falls to $1.03 by Trump takes office in January. Parity ‘is absolutely in play’ after thisaccording to him. The scale of the Republican victory means there is a greater chance of seeing the billionaire’s tariff policy plans implemented.
The euro will be worth less than a dollar according to Deutsche Bank
“If Trump’s agenda is implemented forcefully and quickly without a countervailing policy response from Europe or China, we could see the euro-dollar fall through the parity to 0.95 cents or even below“, said George Saravelos, global head of currency research at Deutsche Bank.
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