
The euro closed Friday at $1.1160, down 0.20%. MUFG still expects ECB rate rises in December 2026 and March 2027, taking the deposit rate to 3.00%.
The ECB held its deposit rate at 2.50% on Thursday, and energy-driven inflation and sovereign bond stress are weighing on the outlook.
Euro moves against the dollar affect the cost of US commodity imports for European feed buyers. Energy-driven inflation also raises input costs for European livestock and feed producers.
After 129 past neutral macro events, EURUSD moved a median -0.1% over 5 sessions (45% higher; middle half -0.5% to +0.5%), and +0.1% 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.