
The euro held above $1.17, its strongest level since September 2021. Germany's June inflation eased to 2.0%, returning to the ECB target, and German retail sales fell sharply.
Broad dollar weakness and a firm euro reduce the dollar cost of imported feed inputs priced in dollars, while soft German data limits the case for tighter ECB policy.
After 388 past bullish macro events, EURUSD moved a median +0.3% over 5 sessions (62% higher; middle half -0.4% to +1.1%), and +0.1% over 20.
After 1,637 past bearish macro events, DXY moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% 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.