# Euro-Dollar: Inflation, GDP Data Prompts Hawkish Rethink of ECB Rate Outlook

> The euro rallied toward 1.0750 against the dollar after Eurozone inflation held at 2.4% in April and Q1 GDP grew 0.3% quarter-on-quarter, beating expectations. Core inflation came in at 2.7%, above the 2.6% forecast.

- Date: 2024-04-30 · published 2024-04-30T12:00:00.000Z
- Category: macro · region Eurozone · magnitude low
- Page: https://feedsoft.ai/events/30941-euro-dollar-inflation-gdp-data-prompts-hawkish-rethink-of-ecb-rate-outlook
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Firmer euro-area data reduce the odds of rapid ECB rate cuts, which supports the euro against the dollar and matters for FX-driven import costs for feed buyers in Europe.

## Read by commodity

- DXY: bearish ▼
- EURUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2021-09-17 | [Euro-Dollar Rate Heavy Despite Leaked ECB Inflation Forecasts](https://feedsoft.ai/events/45270-euro-dollar-rate-heavy-despite-leaked-ecb-inflation-forecasts.md) | -0.2% | -1.4% |
| EURUSD | 2024-05-14 | [Recovering euro keeps dollar 'gorilla' from scuppering ECB rate outlook](https://feedsoft.ai/events/30467-recovering-euro-keeps-dollar-gorilla-from-scuppering-ecb-rate-outlook.md) | +0.6% | -0.6% |
| EURUSD | 2024-10-31 | [Euro Outperforms Dollar and Pound After Inflation and GDP Surprises](https://feedsoft.ai/events/28072-euro-outperforms-dollar-and-pound-after-inflation-and-gdp-surprises.md) | -1.2% | -2.9% |
| EURUSD | 2022-10-26 | [Dollar sells off on speculation of less hawkish Fed, euro regains parity \| Reuters](https://feedsoft.ai/events/39362-dollar-sells-off-on-speculation-of-less-hawkish-fed-euro-regains-parity-reuters.md) | -0.9% | +4.1% |
| EURUSD | 2021-10-29 | [Euro US Dollar Exchange Rate Jumps On ECB Rate Decision And US GDP](https://feedsoft.ai/events/44756-euro-us-dollar-exchange-rate-jumps-on-ecb-rate-decision-and-us-gdp.md) | -1.2% | -3.6% |
| DXY | 2021-09-17 | [Euro-Dollar Rate Heavy Despite Leaked ECB Inflation Forecasts](https://feedsoft.ai/events/45270-euro-dollar-rate-heavy-despite-leaked-ecb-inflation-forecasts.md) | +0.2% | +0.7% |
| DXY | 2024-05-14 | [Recovering euro keeps dollar 'gorilla' from scuppering ECB rate outlook](https://feedsoft.ai/events/30467-recovering-euro-keeps-dollar-gorilla-from-scuppering-ecb-rate-outlook.md) | -0.7% | +1.6% |
| DXY | 2024-10-31 | [Euro Outperforms Dollar and Pound After Inflation and GDP Surprises](https://feedsoft.ai/events/28072-euro-outperforms-dollar-and-pound-after-inflation-and-gdp-surprises.md) | +0.7% | +1.4% |

## Sources

- poundsterlinglive.com: https://www.poundsterlinglive.com/eurusd/20217-euro-dollar-inflation-gdp-data-prompts-hawkish-rethink-of-ecb-rate-outlook

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