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Thread: Is the Euro likely to get more affordable in the next few months?

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    Featured Member lolagetz's Avatar
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    Default Is the Euro likely to get more affordable in the next few months?

    I'm having a hard time finding an answer to this question -- I don't really know what to search for. Long story short, when I go to Europe this summer, will my dollars still be so worthless? Last summer I got by with the 1.36 exchange rate, which wasn't so bad, but now it's up to 1.47. Does anyone know where I can find predictions for the dollar/euro exchange rate in summer 2008?

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    BrunetteGoddess
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    Default Re: Is the Euro likely to get more affordable in the next few months?

    There's no way you're really going to know what the exchange rate will be like so far in advance, as the rate changes sometimes daily. But here's a good converter site that is updated as the rate changes:

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    Default Re: Is the Euro likely to get more affordable in the next few months?

    Quote Originally Posted by lolagetz View Post
    I'm having a hard time finding an answer to this question -- I don't really know what to search for. Long story short, when I go to Europe this summer, will my dollars still be so worthless? Last summer I got by with the 1.36 exchange rate, which wasn't so bad, but now it's up to 1.47. Does anyone know where I can find predictions for the dollar/euro exchange rate in summer 2008?
    If anybody can predict what the exchange rates will be in the future, they can be Billionaires.

    Having said that, You can actually buy futures and lock-in a specific rate.

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    Veteran Member XxAmber89xX's Avatar
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    Default Re: Is the Euro likely to get more affordable in the next few months?

    it's best to make bets on currencies when it is clear that currency shifts are in order.

    however, most predicted adjustments have already occured, making it a little less predictable which way and how much currencies will change.

    it is my estimate, guess at best, that the Euro will stay within a 15% deviation in either direction as compared to the US dollar within the next 6 months, making it not a worthy gamble to take either way because of a lack of clarity. there are forces supporting movements in either way.

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    Default Re: Is the Euro likely to get more affordable in the next few months?

    for what it's worth, a couple of the Wall St. Investment bank analysts are forecasting the Euro at US$1.70 by the end of the year. But as others have posted, there are so many factors that can potentially affect the Euro : US$ exchange rate that accurate predictions are typically impossible.

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    Default Re: Is the Euro likely to get more affordable in the next few months?

    All I know if that I'm keeping my Euros and not changing them back for USD anytime soon. They are for spending if I'm in the EU though, not as any type of savings.

    "Have you ever been to American wedding? Where is the vodka, where's marinated herring?" - GB
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    Featured Member lolagetz's Avatar
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    Default Re: Is the Euro likely to get more affordable in the next few months?

    Quote Originally Posted by Melonie View Post
    for what it's worth, a couple of the Wall St. Investment bank analysts are forecasting the Euro at US$1.70 by the end of the year. But as others have posted, there are so many factors that can potentially affect the Euro : US$ exchange rate that accurate predictions are typically impossible.
    Ahhh! Are you serious?! I'll just die if it goes up to 1.70! Arrrrgh. This sucks. C'mon, dollar, why don't you make yourself useful for a change?!

    I guess I'll just have to cross my fingers. Thanks for the input, everyone.

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    Banned Melonie's Avatar
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    Default Re: Is the Euro likely to get more affordable in the next few months?

    C'mon, dollar, why don't you make yourself useful for a change?!
    the US dollar heading for the basement is VERY useful to many Americans ... those who owe more money than they are worth, those who could never afford their adjustable rate mortgage / loan / credit card payments except for the low 'teaser' interest rate period and will be forced into bankruptcy if rising interest rates doubles their monthly payment, the banks that will have to write off trillions of dollars worth of bad loans if interest rates stay high and borrowers default, etc.

    give a look to get the general idea

    Our problem with the US dollar falling is that we are savers and investors, rather than borrowers and speculators !

    ~
    Last edited by Melonie; 01-25-2008 at 03:29 PM.

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    Default Re: Is the Euro likely to get more affordable in the next few months?

    Quote Originally Posted by lolagetz View Post
    Ahhh! Are you serious?! I'll just die if it goes up to 1.70! Arrrrgh. This sucks. C'mon, dollar, why don't you make yourself useful for a change?!
    From http://online.wsj.com/article/SB1201...oo_hs&ru=yahoo Caterpillar Inc., now firmly looking outside the U.S. for its growth, said fourth-quarter profit rose 11% on booming overseas demand....

    Caterpillar is but one of many companies and their employees are many of thousands who benefit from a lower dollar. As the dollar declines and a recession settles in for the US, Cat and its employees benefit greatly. While I do not totally agree with the Bush administration's handling of the US economy, allowing a fall by the dollar has been good. Not only has it shored up US exports, but it has made the US a more valuable tourist destination.

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