# Europe | Challenges for the euro | BBVA Research

> The euro has fallen more than 5% against the dollar since mid-July, touching 1.04 in early October. Weak European manufacturing, a stronger US economy and Middle East energy risks are cited as the drivers. The analysis expects a slight euro recovery as the Fed begins cutting rates before the ECB.

- Date: 2023-10-30 · published 2023-10-30T12:00:00.000Z
- Category: macro · region Europe · magnitude low
- Page: https://feedsoft.ai/events/33844-europe-challenges-for-the-euro-bbva-research
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A weaker euro makes dollar-priced US feed commodities more expensive for European buyers and can shift export demand. Energy-driven inflation risk in Europe also affects feed input costs.

## Read by commodity

- BRENT: neutral
- EURUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2026-06-17 | [Euro folds as the Fed trades cuts for hikes](https://feedsoft.ai/events/11521-euro-folds-as-the-fed-trades-cuts-for-hikes.md) | -2.3% | -1.4% |
| EURUSD | 2022-06-09 | [FX: What now for the euro? - Euromoney](https://feedsoft.ai/events/9639-fx-what-now-for-the-euro-euromoney.md) | -3.3% | -5.2% |
| EURUSD | 2018-04-12 | [Euro in Danger as Strength Now a Pressing Issue for the European Central Bank](https://feedsoft.ai/events/65729-euro-in-danger-as-strength-now-a-pressing-issue-for-the-european-central-bank.md) | -0.0% | -4.3% |
| EURUSD | 2018-12-14 | [ECB Meeting Produces The Good And The Bad For The Euro \| Exchange Rates UK](https://feedsoft.ai/events/61770-ecb-meeting-produces-the-good-and-the-bad-for-the-euro-exchange-rates-uk.md) | +0.7% | +0.4% |
| EURUSD | 2023-03-26 | [Banking stress puts U.S. and Europe on watch for credit crunch \| Reuters](https://feedsoft.ai/events/37074-banking-stress-puts-u-s-and-europe-on-watch-for-credit-crunch-reuters.md) | +1.0% | +2.0% |
| BRENT | 2020-09-30 | [Europe's Oil Refineries Struggling to Cope With Diesel Glut \| Financial Post](https://feedsoft.ai/events/51273-europe-s-oil-refineries-struggling-to-cope-with-diesel-glut-financial-post.md) | +3.1% | -0.6% |
| BRENT | 2023-08-28 | [Commodities Week Ahead: After Fed, US Jobs Pose Next Challenge for Oil \| Investing.com](https://feedsoft.ai/events/34486-commodities-week-ahead-after-fed-us-jobs-pose-next-challenge-for-oil-investing.md) | +5.1% | +10.2% |
| BRENT | 2019-03-18 | [The outlook of one energy economist for IMO2020: chaos in the diesel market - FreightWaves](https://feedsoft.ai/events/60275-the-outlook-of-one-energy-economist-for-imo2020-chaos-in-the-diesel-market.md) | +0.0% | +7.4% |

## Sources

- bbvaresearch.com: https://www.bbvaresearch.com/en/publicaciones/europe-challenges-for-the-euro/

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