# Euro is back on the scene for global central banks

> Reuters reports the euro is gaining appeal with central bank reserve managers as the ECB has returned to positive rates. Geopolitical tensions are also cited as weighing on the dollar's status.

- Date: 2024-03-06 · published 2024-03-06T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/31421-euro-is-back-on-the-scene-for-global-central-banks
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Diversification away from the dollar by reserve managers is a slow structural shift that can modestly weaken the dollar over time, with limited near-term effect on feed prices.

## Read by commodity

- DXY: bearish ▼
- EURUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2020-02-28 | [EUR/USD: Central banks to favor the euro - Forex Crunch](https://feedsoft.ai/events/54804-eur-usd-central-banks-to-favor-the-euro-forex-crunch.md) | +2.0% | +0.4% |
| EURUSD | 2022-04-28 | [FX: Dollar momentum weakened by global central bank moves - Euromoney](https://feedsoft.ai/events/42036-fx-dollar-momentum-weakened-by-global-central-bank-moves-euromoney.md) | -0.1% | +1.0% |
| EURUSD | 2022-02-19 | [End of European Central Bank’s reign as dovish bastion likely to spark rebound for euro \| The National](https://feedsoft.ai/events/42902-end-of-european-central-bank-s-reign-as-dovish-bastion-likely-to-spark-rebound.md) | -0.9% | -2.5% |
| EURUSD | 2022-07-21 | [Europe's central bank backs larger-than-expected rate hike \| AP News](https://feedsoft.ai/events/40711-europe-s-central-bank-backs-larger-than-expected-rate-hike-ap-news.md) | -1.1% | -0.5% |
| EURUSD | 2017-10-26 | [European Central Bank to scale back massive economic stimulus programme from next year \| The Independent \| The Independent](https://feedsoft.ai/events/68673-european-central-bank-to-scale-back-massive-economic-stimulus-programme-from.md) | -1.6% | +1.1% |
| DXY | 2020-02-28 | [EUR/USD: Central banks to favor the euro - Forex Crunch](https://feedsoft.ai/events/54804-eur-usd-central-banks-to-favor-the-euro-forex-crunch.md) | -0.5% | +4.3% |
| DXY | 2022-02-19 | [End of European Central Bank’s reign as dovish bastion likely to spark rebound for euro \| The National](https://feedsoft.ai/events/42902-end-of-european-central-bank-s-reign-as-dovish-bastion-likely-to-spark-rebound.md) | +0.4% | +1.0% |
| DXY | 2022-07-21 | [Europe's central bank backs larger-than-expected rate hike \| AP News](https://feedsoft.ai/events/40711-europe-s-central-bank-backs-larger-than-expected-rate-hike-ap-news.md) | +0.2% | -0.4% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/euro-is-back-scene-global-central-banks-2024-03-06/

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