Where it sits in our coverage
Our consensus EUR/USD target currently stands at 1.1373 (median across multiple firms), significantly higher than the current spot price, with RBC and Commerzbank at the upper end of the target range, projecting 1.2000 and 1.1900, respectively. In contrast, Lloyds and ABN AMRO present more conservative estimates, forecasting 1.1331 and 1.1284, which are closer to the recent spot levels.
How firms align
Aligned with the bearish view, firms like Mizuho have adjusted their March 2026 target downwards to 1.1300, suggesting a more cautious approach to the EUR. However, others like RBC and CIBC remain optimistic, with targets as high as 1.2000 and 1.1866 respectively, indicating a split sentiment within the market. For further insights, refer to our report on RBC's positioning at /research/rbc-eur-fx-forecast.
What the data shows
Recent updates highlight forecast revisions, with Scotiabank raising its March target to 1.1734, reflecting a relatively stable bullish outlook. This is echoed in our previous research, which has consistently noted the consensus gap between spot prices and target levels, as seen in /research/eurusd-ecb-rate-path-2026-11-10.