◂ Event Timeline

Jul 18, 2024MACROEurope

ECB leaves rates unchanged, markets look to ECB's Lagarde for clues

The European Central Bank kept its key interest rates unchanged on July 18, 2024, and gave no signal about its next move. It said September was wide open and that inflation would stay above target well into next year.

WHY IT MATTERS

A hold with no guidance keeps the euro supported against the dollar, which matters for feed-import costs and for US and EU export competitiveness in grain and meal markets.

AFFECTSEuro (USD per EUR)◆

SOURCE
reuters.comJul 18, 2024

Price reaction & history

Euro (USD per EUR)◆neutralSO FAR1d -0.2%5d -0.7%20d +0.8%

After 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.

Sep 11, 2025ECB keeps rates unchanged as economy steadies – POLITICO+1.1%
Feb 4, 2026ECB keeps rates unchanged, signal comfort with dollar weakness | Reuters+0.7%
Jan 25, 2024ECB Press Conference: Lagarde explains decision to keep rates steady, speaks on policy outlook-0.4%
Apr 29, 2020ECB Preview: Euro-Dollar Recovers From Multi-Week Exchange Rate Lows Ahead Of Lagarde's Next Coronavirus Response | Exchange Rates UK+0.1%
Oct 30, 2025Euro zone markets steady as ECB offers no clues on outlook | 1330 & 101.5 WHBL-1.5%

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.

Euro (USD per EUR) EURUSD · GP ▸

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