USD/EUR — Pair Outlook
USD/EUR outlook
USD/EUR forecasts are aggregated from institutional bank research. The bank-views table below shows each desk's latest published quarterly targets for EUR along with the 1-month, 3-month, YTD, and 12-month change.
Pair analysis pages are auto-assembled from the underlying EUR forecasts plus any bank commentary mentioning USD/EUR. For a deeper writeup, the per-firm reports are linked from each row.
EUR — per-firm forecasts (relevant to USD/EUR)
| Firm | 1m | 3m | YTD | 12m |
|---|---|---|---|---|
| Barclays | -1.5% | -1.5% | +11.3% | +10.7% |
| BNP Paribas | 0.0% | 0.0% | -2.0% | +2.8% |
| Bank of America | -1.5% | -1.5% | +11.3% | +10.7% |
| Citi | 0.0% | 0.0% | -2.0% | +2.8% |
| Commerzbank | 0.0% | 0.0% | -1.2% | +3.7% |
| Deutsche Bank | -1.5% | -1.5% | +11.3% | +10.7% |
| Goldman Sachs | -1.5% | -1.5% | +11.3% | +10.7% |
| HSBC | 0.0% | 0.0% | -0.3% | +4.6% |
| ING | 0.0% | 0.0% | -1.2% | +3.7% |
| J.P. Morgan | -1.5% | -1.5% | +11.3% | +10.7% |
| Mizuho | 0.0% | 0.0% | -1.2% | +3.7% |
| Morgan Stanley | -1.5% | -1.5% | +11.3% | +10.7% |
| MUFG | -1.5% | -1.5% | +11.3% | +10.7% |
| Nomura | 0.0% | 0.0% | -1.2% | +3.7% |
| RBC Capital Markets | 0.0% | 0.0% | -1.2% | +3.7% |
| Société Générale | 0.0% | 0.0% | -2.0% | +2.8% |
| Standard Chartered | 0.0% | 0.0% | -2.0% | +2.8% |
| UBS | 0.0% | 0.0% | -1.2% | +3.7% |
Recent commentary on USD/EUR
FX Daily: Iran fall-out coming home to roost in EUR/USD
ing· gmail-imap· May 22, 2026https://think.ing.com/articles/fx-daily-iran-fall-out-coming-home-to-roost-in-eur-usd/
FX Daily: Iran fall-out coming home to roost in EUR/USD
ing· gmail-imap· May 22, 2026https://think.ing.com/articles/fx-daily-iran-fall-out-coming-home-to-roost-in-eur-usd/
FX Daily: Iran fall-out coming home to roost in EUR/USD
ing· ing-think· May 22, 2026EUR/USD was hit in March on expectations that the stagflationary shock from Iran would resonate more in Europe than the US. The inflationary effects have been plain for all to see, but this week's release of European PMIs warns that the stagnationary effect is just starting to la
Morgan Stanley: How Much Will FX Hedging Flows Boost EUR/USD? - eFXdata
morganstanley· google-news-eurusd· May 21, 2026Morgan Stanley: How Much Will FX Hedging Flows Boost EUR/USD? eFXdata
EUR/USD continues its run lower amid increasing Fed hike bets, surging Treasury yields
· investinglive-fx· May 20, 2026FUNDAMENTAL OVERVIEW USD: The US dollar continues to remain supported amid inflation worries and Fed rate hike bets. The markets started to grow more impatient amid the prolonged US-Iran stalemate and Strait of Hormuz closure. Traders are now pricing in a 50% chance of a rate hik
US Treasuries losing the control they had
ing· ing-think· May 19, 2026Last week we noted that we faced a period of instability for Treasuries. See it here. Since then, the US 10yr yield hit 4.6% last Friday, and today has just hit 4.65%. The overshoot and instability feared is upon us. The big driver? Higher real yields. There are reasons to fear t
FX Daily: Recovery in bonds and EUR/USD looking fragile
ing· gmail-imap· May 19, 2026https://think.ing.com/articles/fx-daily-bonds-and-eur-usd-recovery-looking-fragile/
FX Daily: Recovery in bonds and EUR/USD looking fragile
ing· gmail-imap· May 19, 2026https://think.ing.com/articles/fx-daily-bonds-and-eur-usd-recovery-looking-fragile/
Peer pair analysis
FX BANK FORECAST · COVERAGE
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Aggregated year-end forecasts, scenario shifts, and curated analyst notes from eight institutional desks. No promotion.