Falling EUR/AUD

20 May

My machine learning model forecasts a potential downward trend for EUR/AUD in the coming fortnight, reaching 0.6134. Possible factors influencing this:

1. The euro has faced challenges due to rising gas prices, fears of Russia cutting off natural gas supplies, and the eurozone’s economic outlook.
   
2. The ECB’s dovish stance and potential rate cuts may further contribute to euro weakness.
   
3. Australia’s commitment to green energy and production in its federal budget may positively impact the Australian dollar.
   
4. Positive economic data, such as the Private Sector Credit report, has supported the Australian dollar.