Rabobank: EURUSD will fall back to parity next year due to another surge in gas prices

The currency pair EURUSD again rose higher to the level of 1.05. But according to economists of Rabobank, the pair will fall again to the currency parity level in 2023. It will happen because the problems in the energy sector affect the euro.

The euro exchange rate increased because gas prices fell. It seems that the probability of facing a recession in Germany will be lower than expected. However, economists declare it won't last long.

In the spring and summer of 2023, it will be extremely difficult for Europe to purchase gas at current prices. The reopening of China will strengthen competition for natural gas supplies.

Economists say there is still a risk that the euro will fall to parity next year. It can be caused by the gas price crisis. Therefore, they raised their monthly and three-month outlooks for EURUSD.