# Euro rises, dollar falls after ECB rate decision

> The European Central Bank raised rates by a half point as planned despite recent market turmoil, and the euro rose to $1.0618 while the dollar index fell 0.3%. Markets priced more than an 80% chance of a quarter-point Federal Reserve hike the following week.

- Date: 2023-03-16 · published 2023-03-16T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/10083-euro-rises-dollar-falls-after-ecb-rate-decision
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A firmer euro and softer dollar modestly support dollar-priced commodities, while expectations of continued Fed tightening keep upward pressure on the dollar over the medium term.

## Read by commodity

- DXY: bearish ▼
- EURUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2021-10-29 | [Euro US Dollar Exchange Rate Jumps On ECB Rate Decision And US GDP](https://feedsoft.ai/events/44756-euro-us-dollar-exchange-rate-jumps-on-ecb-rate-decision-and-us-gdp.md) | -1.2% | -3.6% |
| EURUSD | 2023-07-01 | [Dollar weaker after data burst, euro rises on ECB comments](https://feedsoft.ai/events/35680-dollar-weaker-after-data-burst-euro-rises-on-ecb-comments.md) | +0.7% | +0.9% |
| EURUSD | 2021-10-28 | [Dollar falls on euro strength after ECB meeting as rates move \| Financial Post](https://feedsoft.ai/events/44744-dollar-falls-on-euro-strength-after-ecb-meeting-as-rates-move-financial-post.md) | -0.1% | -2.6% |
| EURUSD | 2021-10-28 | [Dollar index drops on euro rise after ECB comments](https://feedsoft.ai/events/7166-dollar-index-drops-on-euro-rise-after-ecb-comments.md) | -0.1% | -2.6% |
| EURUSD | 2025-03-04 | [Euro gains after German debt reform; US dollar falls](https://feedsoft.ai/events/5800-euro-gains-after-german-debt-reform-us-dollar-falls.md) | +3.2% | +2.9% |
| DXY | 2017-06-14 | [Dollar falls after Fed interest rate decision](https://feedsoft.ai/events/10197-dollar-falls-after-fed-interest-rate-decision.md) | +0.6% | -0.9% |
| DXY | 2021-10-29 | [Euro US Dollar Exchange Rate Jumps On ECB Rate Decision And US GDP](https://feedsoft.ai/events/44756-euro-us-dollar-exchange-rate-jumps-on-ecb-rate-decision-and-us-gdp.md) | +0.8% | +2.8% |
| DXY | 2023-07-01 | [Dollar weaker after data burst, euro rises on ECB comments](https://feedsoft.ai/events/35680-dollar-weaker-after-data-burst-euro-rises-on-ecb-comments.md) | -0.3% | -1.3% |

## Sources

- cnbc.com: https://www.cnbc.com/2023/03/16/fear-over-bank-turmoil-sparks-flight-to-safe-haven-currencies.html

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