# Euro crumbles; traders wait on U.S. consumer test | Financial Post

> The euro traded at a 16-month low against the dollar as Europe's central bank chief resisted calls to tighten policy against inflation. Traders awaited US retail sales data, and COVID-19 outbreaks in Europe weighed on the currency. The dollar index hit a 16-month high of 95.595.

- Date: 2021-11-16 · published 2021-11-16T12:00:00.000Z
- Category: macro · region Europe · magnitude medium
- Page: https://feedsoft.ai/events/11952-euro-crumbles-traders-wait-on-u-s-consumer-test-financial-post
- 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 dollar index tends to lower dollar-quoted commodity prices, while the weaker euro raises the cost of euro-denominated feed imports.

## Read by commodity

- DXY: bullish ▲
- EURUSD: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| EURUSD | 2021-11-16 | 5 | -2.2% | -3.1 | Confirms the euro at a 16-month low on Nov 16 as the ECB resisted tightening and COVID outbreaks in Europe weighed on sentiment, with the dollar index at a 16-month high. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2021-02-02 | [Dollar stands tall on better U.S. outlook vs Europe \| Financial Post](https://feedsoft.ai/events/48853-dollar-stands-tall-on-better-u-s-outlook-vs-europe-financial-post.md) | -0.2% | +0.1% |
| EURUSD | 2021-05-27 | [Dollar firms as traders brace for U.S. inflation gauge \| Financial Post](https://feedsoft.ai/events/47285-dollar-firms-as-traders-brace-for-u-s-inflation-gauge-financial-post.md) | -0.7% | -2.3% |
| EURUSD | 2021-03-01 | [Dollar gains on reflation trade, Aussie recovers \| Financial Post](https://feedsoft.ai/events/48359-dollar-gains-on-reflation-trade-aussie-recovers-financial-post.md) | -1.5% | -2.4% |
| EURUSD | 2020-10-28 | [Euro dips on French lockdown fears, U.S. vote drives volatility gauges up \| Financial Post](https://feedsoft.ai/events/50840-euro-dips-on-french-lockdown-fears-u-s-vote-drives-volatility-gauges-up.md) | -0.9% | +0.6% |
| EURUSD | 2021-10-29 | [Euro's losses deepen as markets take dim view of ECB stance \| Financial Post](https://feedsoft.ai/events/7160-euro-s-losses-deepen-as-markets-take-dim-view-of-ecb-stance-financial-post.md) | -1.2% | -3.6% |
| DXY | 2021-02-02 | [Dollar stands tall on better U.S. outlook vs Europe \| Financial Post](https://feedsoft.ai/events/48853-dollar-stands-tall-on-better-u-s-outlook-vs-europe-financial-post.md) | -0.3% | +0.1% |
| DXY | 2021-05-27 | [Dollar firms as traders brace for U.S. inflation gauge \| Financial Post](https://feedsoft.ai/events/47285-dollar-firms-as-traders-brace-for-u-s-inflation-gauge-financial-post.md) | +0.3% | +1.3% |
| DXY | 2020-03-31 | [Yen declines on year-end U.S. dollar demand \| Financial Post](https://feedsoft.ai/events/54348-yen-declines-on-year-end-u-s-dollar-demand-financial-post.md) | +0.7% | +0.5% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/euro-crumbles-traders-wait-on-u-s-consumer-test

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