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XM Group reported on April 28 that the ECB kept rates unchanged in its March decision but adopted a more hawkish tone due to Middle East war risks. Euro-area headline inflation rose to 2.6% in March from 1.9% in February, and April's composite PMI showed business activity contracting for the first time since December 2024.
Markets were pricing higher odds of a June hike.
Expectations of a hawkish ECB support the euro and can lift the currency value of European feed purchases from dollar-priced markets. Weaker European business activity could reduce demand for animal products and feed.
investing.comTrading PointApr 28, 2026After 388 past bullish macro events, Euro (USD per EUR) moved a median +0.3% over 5 sessions (62% higher; middle half -0.4% to +1.1%), 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.
