Eurozone inflation accelerates in May: Are ECB rate cuts in doubt?

After 388 past bullish macro events, Euro (USD per EUR) moved a median +0.3% over 5 sessions (62% higher; middle half -0.4% to +1.1%), and +0.1% over 20.

• Jul 31, 2024EUR/USD rises to 1.0830 as Eurozone Inflation accelerates, Fed policy eyed — Octa+1.1%
• Sep 7, 2017ECB cites inflation-dampening euro rate as policy factor-0.4%
• Sep 1, 2026Euro zone inflation rises above 3%, cementing ECB rate hike bets | Reuters+0.1%
• Jun 27, 2025Dollar hovers near 3-1/2-year low with market focus on US rate cuts, euro area inflation+0.3%
• Dec 18, 2025EUR/USD rebounds as ECB holds rates and US inflation cools+0.3%

After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.

• Jul 31, 2024EUR/USD rises to 1.0830 as Eurozone Inflation accelerates, Fed policy eyed — Octa-0.5%
• Sep 7, 2017ECB cites inflation-dampening euro rate as policy factor+0.2%
• Jun 27, 2025Dollar hovers near 3-1/2-year low with market focus on US rate cuts, euro area inflation-0.3%
• Dec 18, 2025EUR/USD rebounds as ECB holds rates and US inflation cools-0.6%
• Sep 17, 2021Euro-Dollar Rate Heavy Despite Leaked ECB Inflation Forecasts+0.2%