Experts told whether to expect the Euro to $ 90
The Euro a few overheated, and while we should not expect its strengthening in the area of $ 90, believe polled by RIA Novosti experts.
The Euro on Monday updated its maximum since April, rising to 84.48 ruble. On Forex the European currency highs from September 2018 and has already been raised earlier in the week to 1,1764 dollar.
The strong growth of the Euro against the ruble is connected with the events on the foreign exchange market in particular with the dynamics of the pair EUR/USD, the Director of Department of investment analysis and training company "Univer-Capital" Andrey Vernikov.
"The main reason for the weakness of the dollar is that the US is now one of the centers of the pandemic coronavirus. In Europe the situation is more calm. U.S. authorities are forced to continue the policy of aggressive quantitative easing to minimize the damage caused by a new virus economy. This week the U.S. Congress could adopt a second package of monetary stimulus and the next fed meeting on Wednesday can be stated about the need to continue the soft monetary policy. There is reason to expect strong inflation of the dollar, so investors choose the Euro", - he explained.
The weakness of the dollar caused by the difference in approaches of financing programs of economic assistance from COVID-19, adds senior analyst "Discovery broker" Andrei Kochetkov.
"If the United States is the main purchaser of new debt is the fed, in Europe, the new programme will be funded primarily through loans on the open market. In fact, the weakness of U.S. currency due to the ongoing work of the "printing press". The fed can "print" to 10-20% of the us economy in the current year. Such a large-scale program of quantitative easing has already led to new records in gold prices and the strengthening of the Euro to multi-year highs", he added.
Global investors amid weak data on the labor market in the United States expressed concerns about a rapid recovery of the American economy, says analyst CC "Finam" Sergey Drozdov. In the end, us currency, besides the Euro also losing ground against the Japanese yen, the Swiss franc and the British pound, he added.
However, locally the weakening of "American" can be after the fed meeting (July 29), and the dollar can win back some previously lost positions, says Drozdov. "In this regard, I would not bet on the Euro to the mark of 90 rubles. The dollar at this stage, in the absence of both positive and extremely negative factors in the medium term will remain in the range of from 70.50-72,30 ruble," he said.
"We would not talk about the Euro, about 90 rubles in the short term. On the contrary, in August, the ruble may return to strengthen and slightly improve its position against the Euro, as well as to significantly improve the situation against the dollar to 70 rubles for the American currency", - Kochetkov also evaluated.
This week the dollar will fluctuate within 71-72,5 ruble and Euro – 83,5-84.7 ruble appreciated economist "BCS Premier" Anton Pokatovich.
"At the moment the Euro is overheated, and I would have been this week, expect a certain weakening of his from the course of 85.5 of the ruble," said Vernikov.
However, later this year, the Euro could grow in the area of 89 rubles, he added.