Euro/Dollar Parity & Summer Travel

Euro/Dollar Parity & Summer Travel

August 10, 2022
Share |

Summer travel has picked up this year. Airports are packed and thousands of flights have been canceled or postponed due to weather or other conditions. Over the weekend, more than 2,000 flights had been delayed across the United States by midday Monday after more than 8,000 were delayed on Sunday.

Now, the good news. If you’re headed to Europe this summer or early fall, you may notice that now you will get more bang for your buck.

Why is that?

For the first time in almost 20 years, the U.S. dollar and the euro have reached parity (equality). Souvenirs will be cheaper for Americans, but Europeans coming this direction may feel the pinch of more expensive goods and services.

The U.S. dollar has strengthened against the euro in part because of differences in monetary policy. The U.S. has been raising rates to slow inflation, while the European Central Bank (ECB) has been hesitant for fear of slowing economic growth.

However, with the ECB expected to raise short-term rates for the first time in over a decade, euro/dollar parity may be short-lived.

Luck is not a plan and hope is not a strategy. Let's talk about your financial goals. We help your money live as long as you do. We make financial advice more accessible and more affordable. 

And if you’re headed to Europe, send me a vacation photo!

To schedule a free, 30 minute consultation, click on the link below:

https://calendly.com/gowdyfinancialgroup/30-minute-consultation

Are you ready to start the process of creating a custom Financial Freedom plan to help you meet your financial goals? Click on the link below:

https://www.gowdyfinancialgroup.net/financial-coaching-profile