ABSTRACT Purpose: The objective of this article is to model a minute series of exchange rates for the EUR/USD pair using the singular spectrum analysis (SSA) and ARIMA-GARCH methods and evaluate which one offers better forecasts for a five-minute horizon. Originality/value: Despite being a successful technique in other branches of science, the application of SSA in finance is quite new. Furthermore, exchange rate modeling is a complex problem, comprising statistical concepts and properties. However, despite the complexity, the analysis of this series is extremely important for several agents playing, directly or indirectly, a role in the economy and the financial market. Design/methodology/approach: Time series models were estimated using the ARIMA-GARCH and SSA techniques, taking into account three samples of the ask exchange rate (closing): uptrend, downtrend, and no well-defined trend. Findings: The forecasts carried out by the SSA were the ones closest to the original observations for the three cases. Regarding the quality measurements, SSA obtained the best results for both uptrend and downtrend samples; for the sample with no well-defined trend, the findings indicated that the ARIMA-GARCH technique attained better results. However, it was concluded that the SSA forecasts, regarding exchange rates during the studied period, are more appropriate than the ones obtained by the ARIMA-GARCH model, regardless of the market movement.

Luxembourg STATEC Forecast: Foreign Exchange Rate: US Dollar data was reported at 1.180 USD/EUR in 2018. This records an increase from the previous number of 1.130 USD/EUR for 2017. Luxembourg STATEC Forecast: Foreign Exchange Rate: US Dollar data is updated yearly, averaging 1.155 USD/EUR from Dec 2017 (Median) to 2018, with 2 observations. The data reached an all-time high of 1.180 USD/EUR in 2018 and a record low of 1.130 USD/EUR in 2017. Luxembourg STATEC Forecast: Foreign Exchange Rate: US Dollar data remains active status in CEIC and is reported by The Portal of Statistics of Luxembourg. The data is categorized under Global Database’s Luxembourg – Table LU.M009: Foreign Exchange Rate: Forecast: The Portal of Statistics of Luxembourg.

The official currency of Monaco is the Euro. EURO EXCHANGE RATE - EUR/USD - MONACO - values, historical data, forecasts and news - updated on July of 2025.

ISTAT Forecast: Foreign Exchange Rate: US Dollar data was reported at 1.230 EUR/USD in 2018. This records an increase from the previous number of 1.130 EUR/USD for 2017. ISTAT Forecast: Foreign Exchange Rate: US Dollar data is updated yearly, averaging 1.180 EUR/USD from Dec 2013 (Median) to 2018, with 6 observations. The data reached an all-time high of 1.330 EUR/USD in 2014 and a record low of 1.110 EUR/USD in 2016. ISTAT Forecast: Foreign Exchange Rate: US Dollar data remains active status in CEIC and is reported by National Institute of Statistics. The data is categorized under Global Database’s Italy – Table IT.M007: Foreign Exchange Rate: Forecast: National Institute of Statistics.

The official currency of Netherlands is the Euro. Euro Exchange Rate - EUR/USD - Netherlands - values, historical data, forecasts and news - updated on July of 2025.

The official currency of Lithuania is the Euro. Euro Exchange Rate - EUR/USD - Lithuania - values, historical data, forecasts and news - updated on July of 2025.

The official currency of Austria is the Euro. Euro Exchange Rate - EUR/USD - Austria - values, historical data, forecasts and news - updated on July of 2025.

Ireland IE: Exchange Rate: USD per National Currency data was reported at 1.058 EUR/USD in 2026. This stayed constant from the previous number of 1.058 EUR/USD for 2025. Ireland IE: Exchange Rate: USD per National Currency data is updated yearly, averaging 1.181 EUR/USD from Dec 1990 (Median) to 2026, with 37 observations. The data reached an all-time high of 1.468 EUR/USD in 2008 and a record low of 0.896 EUR/USD in 2001. Ireland IE: Exchange Rate: USD per National Currency data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Ireland – Table IE.OECD.EO: Exchange Rate: Forecast: OECD Member: Annual. EXCH - Exchange rate, USD per national currency (1/EXCHUD)

The Euro to Australian exchange rate history reveals a peak in March 2020, before declining well until mid 2022. Exchange rates fluctuate against each other constantly. As of July 15, 2025, the exchange rate was avalued at 1.78 Australian dollars per euro. The rate in which one currency performs against another depends on the demand that it generates at any given time. Exchange rates are affected by several factors including international trade, tourism and geopolitical tensions.Euro gains strength against the Brexit PoundOne good example of geopolitical risks having a negative effect on the strength of a currency is to look at the British Pound post Brexit referendum. The average annual exchange rate of the Euro to GBP increased significantly between 2015 and 2018.The Euro vs the worldSince 2016, the euro has performed well against several other currencies. The Euro to U.S dollar had seen its annual average exchange rate increase by .07 between 2016 and 2018, after slightly decreasing in 2019. Against the Indian Rupee, the Euro had performed even better, with the average annual exchange rate equaling 78.84 in 2019.

Slovakia SK: Exchange Rate: USD per National Currency: Single Hit Scenario data was reported at 1.082 EUR/USD in 2021. This records a decrease from the previous number of 1.088 EUR/USD for 2020. Slovakia SK: Exchange Rate: USD per National Currency: Single Hit Scenario data is updated yearly, averaging 1.082 EUR/USD from Dec 1993 (Median) to 2021, with 29 observations. The data reached an all-time high of 1.415 EUR/USD in 2008 and a record low of 0.623 EUR/USD in 2001. Slovakia SK: Exchange Rate: USD per National Currency: Single Hit Scenario data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Slovakia – Table SK.OECD.EO: Exchange Rate: Forecast: OECD Member: Annual. EXCH - Exchange rate, USD per national currency (1/EXCHUD)

The official currency of Montenegro is the Euro. Euro Exchange Rate - EUR/USD - Montenegro - values, historical data, forecasts and news - updated on July of 2025.

Luxembourg LU: Exchange Rate: National Currency per USD: Single Hit Scenario data was reported at 0.924 USD/EUR in 2021. This records an increase from the previous number of 0.919 USD/EUR for 2020. Luxembourg LU: Exchange Rate: National Currency per USD: Single Hit Scenario data is updated yearly, averaging 0.912 USD/EUR from Dec 1960 (Median) to 2021, with 62 observations. The data reached an all-time high of 1.473 USD/EUR in 1985 and a record low of 0.684 USD/EUR in 2008. Luxembourg LU: Exchange Rate: National Currency per USD: Single Hit Scenario data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Luxembourg – Table LU.OECD.EO: Exchange Rate: Forecast: OECD Member: Annual. EXCHUD - Exchange rate, national currency per USD

The official currency of Luxembourg is the Euro. Euro Exchange Rate - EUR/USD - Luxembourg - values, historical data, forecasts and news - updated on July of 2025.

The official currency of Greece is the Euro. Euro Exchange Rate - EUR/USD - Greece - values, historical data, forecasts and news - updated on July of 2025.

Ireland IE: Purchasing Power Parity: National Currency per USD: Single Hit Scenario data was reported at 0.775 USD/EUR in 2021. This stayed constant from the previous number of 0.775 USD/EUR for 2020. Ireland IE: Purchasing Power Parity: National Currency per USD: Single Hit Scenario data is updated yearly, averaging 0.821 USD/EUR from Dec 1990 (Median) to 2021, with 32 observations. The data reached an all-time high of 1.012 USD/EUR in 2005 and a record low of 0.773 USD/EUR in 1991. Ireland IE: Purchasing Power Parity: National Currency per USD: Single Hit Scenario data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Ireland – Table IE.OECD.EO: Exchange Rate: Forecast: OECD Member: Annual. PPP - Purchasing power parity, national currency per USD

The Europe data center power market was valued at USD 4.96 billion in 2021 and is expected to reach USD 7.46 billion by 2027, growing at a CAGR of 7.05% during 2022-2027.

The Europe health coaching market size was valued at USD 5.14 billion in 2023 and is expected to reach USD 7.68 billion by 2029, growing at a CAGR of 6.93% during the forecast period.

The official currency of Finland is the Euro. Euro Exchange Rate - EUR/USD - Finland - values, historical data, forecasts and news - updated on July of 2025.

Policy interest rates in the U.S. and Europe are forecasted to decrease gradually between 2024 and 2027, following exceptional increases triggered by soaring inflation between 2021 and 2023. The U.S. federal funds rate stood at **** percent at the end of 2023, the European Central Bank deposit rate at **** percent, and the Swiss National Bank policy rate at **** percent. With inflationary pressures stabilizing, policy interest rates are forecast to decrease in each observed region. The U.S. federal funds rate is expected to decrease to *** percent, the ECB refi rate to **** percent, the Bank of England bank rate to **** percent, and the Swiss National Bank policy rate to **** percent by 2025. An interesting aspect to note is the impact of these interest rate changes on various economic factors such as growth, employment, and inflation. The impact of central bank policy rates The U.S. federal funds effective rate, crucial in determining the interest rate paid by depository institutions, experienced drastic changes in response to the COVID-19 pandemic. The subsequent slight changes in the effective rate reflected the efforts to stimulate the economy and manage economic factors such as inflation. Such fluctuations in the federal funds rate have had a significant impact on the overall economy. The European Central Bank's decision to cut its fixed interest rate in June 2024 for the first time since 2016 marked a significant shift in attitude towards economic conditions. The reasons behind the fluctuations in the ECB's interest rate reflect its mandate to ensure price stability and manage inflation, shedding light on the complex interplay between interest rates and economic factors. Inflation and real interest rates The relationship between inflation and interest rates is critical in understanding the actions of central banks. Central banks' efforts to manage inflation through interest rate adjustments reveal the intricate balance between economic growth and inflation. Additionally, the concept of real interest rates, adjusted for inflation, provides valuable insights into the impact of inflation on the economy.

The Europe IT spending market size reached a value of more than USD 1100.75 Billion in 2024. The market is projected to rise at a CAGR of 8.10% between 2025 and 2034, reaching a value of USD 2398.53 Billion by 2034.