# EUR/USD Forecasts Downgraded On Euro-Zone Covid Stresses: Goldman Sachs

> Goldman Sachs lowered its three- and six-month EUR/USD forecasts to 1.14 and 1.16 from 1.16 and 1.18. The bank cited euro-zone weakness, COVID-related restrictions and shifting Fed expectations after higher-than-expected October US CPI. EUR/USD traded at about 1.1280 on Monday.

- Date: 2021-11-22 · published 2021-11-22T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/44250-eur-usd-forecasts-downgraded-on-euro-zone-covid-stresses-goldman-sachs
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A weaker euro and firmer dollar on Fed tightening expectations support US dollar strength, which can cap dollar-denominated grain and oilseed prices. The effect on feed markets is indirect and mainly reflects currency-driven shifts in export competitiveness.

## Read by commodity

- DXY: bullish ▲
- EURUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2021-11-22 | [EUR/USD: Vulnerable to downside risks to Euro Area activity – Goldman Sachs](https://feedsoft.ai/events/44251-eur-usd-vulnerable-to-downside-risks-to-euro-area-activity-goldman-sachs.md) | -0.5% | -0.2% |
| EURUSD | 2019-07-26 | [The Euro-Dollar Rate is In Line for Forecast Downgrades as ECB Eyes Stimulus](https://feedsoft.ai/events/58314-the-euro-dollar-rate-is-in-line-for-forecast-downgrades-as-ecb-eyes-stimulus.md) | -0.8% | -0.6% |
| EURUSD | 2026-06-25 | [BofA cuts euro forecasts, sees stronger dollar in second half on hawkish Fed By Investing.com](https://feedsoft.ai/events/19032-bofa-cuts-euro-forecasts-sees-stronger-dollar-in-second-half-on-hawkish-fed-by.md) | +0.3% | +0.2% |
| EURUSD | 2024-09-23 | [US Dollar Forecast: EUR/USD Falls as Weak Eurozone Data Fuels ECB Rate Cut Bets \| FXEmpire](https://feedsoft.ai/events/28531-us-dollar-forecast-eur-usd-falls-as-weak-eurozone-data-fuels-ecb-rate-cut-bets.md) | 0.0% | -3.0% |
| EURUSD | 2018-09-30 | [The British Pound, Euro And US Dollar (GBP, EUR, USD) Exchange Rate Forecasts - Brexit Update \| Exchange Rates UK](https://feedsoft.ai/events/63290-the-british-pound-euro-and-us-dollar-gbp-eur-usd-exchange-rate-forecasts-brexit.md) | -1.0% | -2.0% |
| DXY | 2021-11-22 | [EUR/USD: Vulnerable to downside risks to Euro Area activity – Goldman Sachs](https://feedsoft.ai/events/44251-eur-usd-vulnerable-to-downside-risks-to-euro-area-activity-goldman-sachs.md) | +1.2% | +0.7% |
| DXY | 2017-01-13 | [CBA's Australian Dollar Forecasts 2017: USD to Rule but AUD to Advance on EUR, GBP](https://feedsoft.ai/events/73255-cba-s-australian-dollar-forecasts-2017-usd-to-rule-but-aud-to-advance-on-eur-gbp.md) | -0.5% | -1.2% |
| DXY | 2022-11-01 | [USD/ZAR Forecast \| Will USD/ZAR Go Up or Down?](https://feedsoft.ai/events/39428-usd-zar-forecast-will-usd-zar-go-up-or-down.md) | -1.0% | -3.2% |

## Sources

- exchangerates.org.uk: https://www.exchangerates.org.uk/news/34477/2021-11-22--eur-usd-forecasts-downgraded-on-eurozone-covid-stresses-goldman-sachs.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.