# EUR/USD: Correction unfolds as ECB nears decision – MUFG

> EUR/USD slipped below 1.1700 on April 30 as the euro corrected ahead of the ECB decision, hitting a low of 1.1655 after a high of 1.1849 on April 17. MUFG noted the euro had held up better than oil-price sensitivity suggested, falling only about 1% while Brent rose more than 70% since the conflict began. MUFG forecasts 50 basis points of ECB hikes.

- Date: 2026-04-30 · published 2026-04-30T12:00:00.000Z
- Category: macro · region Europe · magnitude low
- Page: https://feedsoft.ai/events/19946-eur-usd-correction-unfolds-as-ecb-nears-decision-mufg
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

The euro's resilience despite a large oil rally suggests energy costs are not yet fully reflected in currency-driven feed import prices. A reversal in the euro would change the cost of US and Brazilian feed ingredients for European buyers.

## Read by commodity

- BRENT: bullish ▲
- EURUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2025-01-30 | [COMMENT-ECB, data set the stage for lower EUR/USD as tariff decision looms](https://feedsoft.ai/events/26731-comment-ecb-data-set-the-stage-for-lower-eur-usd-as-tariff-decision-looms.md) | +0.0% | -0.0% |
| EURUSD | 2017-10-28 | [ECB Decision, Draghi Comments Sink Euro \| Nasdaq](https://feedsoft.ai/events/68671-ecb-decision-draghi-comments-sink-euro-nasdaq.md) | +0.3% | +2.6% |
| EURUSD | 2022-07-20 | [Dollar rises vs euro as traders eye ECB rate decision](https://feedsoft.ai/events/40712-dollar-rises-vs-euro-as-traders-eye-ecb-rate-decision.md) | -1.2% | -0.6% |
| EURUSD | 2023-10-31 | [EUR/USD retreats on mixed EU data, ahead of Fed’s decision – Noor Trends](https://feedsoft.ai/events/33846-eur-usd-retreats-on-mixed-eu-data-ahead-of-fed-s-decision-noor-trends.md) | +1.2% | +3.3% |
| EURUSD | 2018-07-25 | [Euro settles lower after ECB decision; yen up](https://feedsoft.ai/events/64243-euro-settles-lower-after-ecb-decision-yen-up.md) | +0.2% | -1.3% |
| BRENT | 2026-09-08 | [Ringgit ends lower as oil prices rise, Fed decision looms \| Malay Mail](https://feedsoft.ai/events/17731-ringgit-ends-lower-as-oil-prices-rise-fed-decision-looms-malay-mail.md) | +10.4% | +7.7% |
| BRENT | 2026-04-29 | [EUR/USD Holds Gains but Rate Expectations Leave Outlook Uncertain \| Investing.com](https://feedsoft.ai/events/19945-eur-usd-holds-gains-but-rate-expectations-leave-outlook-uncertain-investing-com.md) | -1.9% | -16.4% |
| BRENT | 2019-06-19 | [Commodities outlook: It's all action as Fed decides](https://feedsoft.ai/events/58511-commodities-outlook-it-s-all-action-as-fed-decides.md) | +4.6% | +3.8% |

## Sources

- fxstreet.com: https://www.fxstreet.com/news/eur-usd-correction-unfolds-as-ecb-nears-decision-mufg-202604300929

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