
Traders on April 30 slightly reduced bets on three ECB rate hikes this year after policymakers weighed inflation against growth damage from higher energy prices. Two sources told Reuters the ECB is likely to raise rates at least twice, starting in June.
Money markets priced an 88% chance of a June quarter-point hike.
Expectations of tighter euro-zone policy support the euro and can cut into demand for credit-financed livestock and feed investment. The pricing change is a routine rate-expectation shift with limited direct effect on feed prices.
After 129 past neutral macro events, Euro (USD per EUR) moved a median -0.1% over 5 sessions (45% higher; middle half -0.5% to +0.5%), and +0.1% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.