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The ECB left its deposit rate unchanged at 2% and revised 2025 growth up to 1.2% from 0.9%. Lagarde said the disinflationary process is over and that the risks to the outlook have become more balanced.
With the ECB likely finished cutting, euro-dollar moves will depend more on Fed policy, which affects dollar-priced commodity import costs.
politico.euJohanna TreeckSep 11, 2025After 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.
