# Euro drops as glum PMI readings stoke bets on more ECB easing  - The Business Times

> The euro dropped 0.4% to $1.1122 after S&P Global surveys showed euro zone business activity unexpectedly contracting in September. The slump was broad-based, with Germany's decline deepening and France returning to contraction.

- Date: 2024-09-23 · published 2024-09-23T12:00:00.000Z
- Category: macro · region Europe · magnitude low
- Page: https://feedsoft.ai/events/28529-euro-drops-as-glum-pmi-readings-stoke-bets-on-more-ecb-easing-the-business-times
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Weak euro zone data raises expectations of more ECB easing, which pressures the euro and supports a firmer dollar that makes dollar-priced feed commodities costlier for euro buyers.

## Read by commodity

- DXY: bullish ▲
- EURUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2019-03-04 | [US dollar extends rising streak even as euro slips - The Business Times](https://feedsoft.ai/events/60270-us-dollar-extends-rising-streak-even-as-euro-slips-the-business-times.md) | -1.2% | -1.3% |
| EURUSD | 2021-08-29 | [ECB out-doving the Fed boosts euro's allure as funder of carry trades - The Business Times](https://feedsoft.ai/events/45767-ecb-out-doving-the-fed-boosts-euro-s-allure-as-funder-of-carry-trades-the.md) | +0.8% | -0.8% |
| EURUSD | 2021-10-28 | [Euro drops ahead of ECB meeting, yen looks past BOJ doves - Markets - Business Recorder](https://feedsoft.ai/events/7161-euro-drops-ahead-of-ecb-meeting-yen-looks-past-boj-doves-markets-business.md) | -0.1% | -2.6% |
| EURUSD | 2024-06-11 | [Euro drops to a one-month low; US dollar firms ahead of key inflation test  - The Business Times](https://feedsoft.ai/events/29986-euro-drops-to-a-one-month-low-us-dollar-firms-ahead-of-key-inflation-test-the.md) | -0.3% | +0.7% |
| EURUSD | 2023-08-31 | [Dollar gains on solid data, euro drops on cautious ECB comments - Markets - Business Recorder](https://feedsoft.ai/events/34781-dollar-gains-on-solid-data-euro-drops-on-cautious-ecb-comments-markets-business.md) | -2.0% | -3.2% |
| DXY | 2019-03-04 | [US dollar extends rising streak even as euro slips - The Business Times](https://feedsoft.ai/events/60270-us-dollar-extends-rising-streak-even-as-euro-slips-the-business-times.md) | +0.7% | +0.5% |
| DXY | 2024-06-11 | [Euro drops to a one-month low; US dollar firms ahead of key inflation test  - The Business Times](https://feedsoft.ai/events/29986-euro-drops-to-a-one-month-low-us-dollar-firms-ahead-of-key-inflation-test-the.md) | +0.3% | -0.6% |
| DXY | 2019-07-28 | [C$ steadies, after hitting 1-month low on better-than-expected US data - The Business Times](https://feedsoft.ai/events/58338-c-steadies-after-hitting-1-month-low-on-better-than-expected-us-data-the.md) | +0.6% | +1.5% |

## Sources

- businesstimes.com.sg: https://www.businesstimes.com.sg/companies-markets/capital-markets-currencies/euro-drops-glum-pmi-readings-stoke-bets-more-ecb-easing

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