# ForexLive European FX news wrap: Euro falls as ECB rate hike bets abate

> The euro fell on August 31 as ECB rate-hike bets were pared, after eurozone preliminary CPI came in at 5.3% against 5.1% expected. ECB speakers Schnabel and Holzmann signaled uncertainty about the peak rate, and WTI crude was up 0.9% to $82.37.

- Date: 2023-08-31 · published 2023-08-31T12:00:00.000Z
- Category: macro · region Europe · magnitude low
- Page: https://feedsoft.ai/events/34810-forexlive-european-fx-news-wrap-euro-falls-as-ecb-rate-hike-bets-abate
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Expectations for a less aggressive ECB weaken the euro and support the dollar, which affects dollar-priced commodity trade. Crude oil's rise also feeds into biofuel and freight costs for feed markets.

## Read by commodity

- WTI: bullish ▲
- EURUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2024-09-23 | [US Dollar Forecast: EUR/USD Falls as Weak Eurozone Data Fuels ECB Rate Cut Bets \| FXEmpire](https://feedsoft.ai/events/28531-us-dollar-forecast-eur-usd-falls-as-weak-eurozone-data-fuels-ecb-rate-cut-bets.md) | 0.0% | -3.0% |
| EURUSD | 2026-08-26 | [Euro falls despite report signaling ECB rate hike](https://feedsoft.ai/events/18102-euro-falls-despite-report-signaling-ecb-rate-hike.md) | -0.7% | -2.4% |
| EURUSD | 2022-10-27 | [Euro falls against the dollar after ECB rate hike, U.S. data](https://feedsoft.ai/events/39360-euro-falls-against-the-dollar-after-ecb-rate-hike-u-s-data.md) | -1.9% | +3.3% |
| EURUSD | 2023-09-14 | [Euro Falls After ECB Hikes Interest Rates \| Morningstar](https://feedsoft.ai/events/34316-euro-falls-after-ecb-hikes-interest-rates-morningstar.md) | -0.2% | -1.7% |
| EURUSD | 2018-07-26 | [European Central Bank says rates will remain low for months \| AP News](https://feedsoft.ai/events/64242-european-central-bank-says-rates-will-remain-low-for-months-ap-news.md) | -0.1% | -0.7% |
| WTI | 2018-06-13 | [Forexlive Americas FX new wrap: FOMC raised rates by 0.25% and signals 2 more in 2018](https://feedsoft.ai/events/64442-forexlive-americas-fx-new-wrap-fomc-raised-rates-by-0-25-and-signals-2-more-in.md) | -1.9% | +6.1% |
| WTI | 2019-02-21 | [Rupiah falls 27 points apparently on fed rate hike - ANTARA News](https://feedsoft.ai/events/60896-rupiah-falls-27-points-apparently-on-fed-rate-hike-antara-news.md) | +0.0% | +5.5% |
| WTI | 2026-07-23 | [Traders stick with ECB rate-hike bets as oil touches $100 once more - AOL](https://feedsoft.ai/events/18558-traders-stick-with-ecb-rate-hike-bets-as-oil-touches-100-once-more-aol.md) | -2.1% | -0.7% |

## Sources

- investinglive.com: https://investinglive.com/news/forexlive-european-fx-news-wrap-euro-falls-as-ecb-rate-hike-bets-abate-20230831/

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