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The European Central Bank cut interest rates on October 17 for the third time this year. It said euro zone inflation was increasingly under control while the economic outlook was worsening.
Lower euro zone rates tend to weaken the euro against the dollar, which can make EU-origin products less expensive to buy with dollars and affects feed commodity trade flows.
reuters.comFrancesco Canepa, Balazs KoranyiOct 16, 2024After 533 past bearish macro events, Euro (USD per EUR) moved a median -0.3% over 5 sessions (33% higher; middle half -1.2% to +0.2%), and -0.5% 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.
