# Euro gains after ECB rate cut as Lagarde pushes back on October ease

> The euro rose against the dollar after the European Central Bank cut its rates by 25 basis points. ECB President Christine Lagarde dampened expectations of another cut in October, saying policy would depend on incoming economic data.

- Date: 2024-09-12 · published 2024-09-12T12:00:00.000Z
- Category: macro · region Europe · magnitude low
- Page: https://feedsoft.ai/events/28525-euro-gains-after-ecb-rate-cut-as-lagarde-pushes-back-on-october-ease
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A firmer euro weakens the dollar index, which lowers the cost of dollar-priced commodities for euro-area buyers and slightly supports dollar-denominated grain and oilseed prices.

## Read by commodity

- DXY: bearish ▼
- EURUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2022-05-24 | [Euro extends gains after Lagarde's bullish remarks](https://feedsoft.ai/events/12689-euro-extends-gains-after-lagarde-s-bullish-remarks.md) | +0.6% | -0.8% |
| EURUSD | 2019-05-19 | [Euro Climbs Higher as ECB pushes back Interest Rate deadline; - BBC Money](https://feedsoft.ai/events/59291-euro-climbs-higher-as-ecb-pushes-back-interest-rate-deadline-bbc-money.md) | +0.3% | +0.6% |
| EURUSD | 2022-05-23 | [Stocks rally as euro gains on likely rate hikes](https://feedsoft.ai/events/12688-stocks-rally-as-euro-gains-on-likely-rate-hikes.md) | +1.4% | -0.1% |
| EURUSD | 2023-12-14 | [Dollar tumbles on dovish Fed, euro gains as ECB talks down rate cuts – ThePrint – ReutersFeed](https://feedsoft.ai/events/8298-dollar-tumbles-on-dovish-fed-euro-gains-as-ecb-talks-down-rate-cuts-theprint.md) | +1.5% | +1.5% |
| EURUSD | 2023-12-14 | [Euro-Dollar Closing On 1.10 As ECB Resists Rate Cut Bets](https://feedsoft.ai/events/8300-euro-dollar-closing-on-1-10-as-ecb-resists-rate-cut-bets.md) | +1.5% | +1.5% |
| DXY | 2022-05-24 | [Euro extends gains after Lagarde's bullish remarks](https://feedsoft.ai/events/12689-euro-extends-gains-after-lagarde-s-bullish-remarks.md) | -0.5% | +1.5% |
| DXY | 2019-05-19 | [Euro Climbs Higher as ECB pushes back Interest Rate deadline; - BBC Money](https://feedsoft.ai/events/59291-euro-climbs-higher-as-ecb-pushes-back-interest-rate-deadline-bbc-money.md) | -0.3% | -0.4% |
| DXY | 2022-05-23 | [Stocks rally as euro gains on likely rate hikes](https://feedsoft.ai/events/12688-stocks-rally-as-euro-gains-on-likely-rate-hikes.md) | -0.9% | +1.1% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/dollar-firm-inflation-data-douse-bets-big-fed-rate-cut-2024-09-12/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.