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The ECB held its key deposit rate at 2% for the third consecutive meeting. The bank said the economy continued to grow despite global trade disputes and geopolitical tensions.
Top board members had earlier said the easing cycle was close to or at its end.
A policy pause in the euro zone limits near-term currency moves that would otherwise shift the cost of imported feed ingredients priced in dollars.
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.