◂ Event Timeline

Jul 31, 2023MACROEurozone

Euro shrugs as eurozone GDP, core CPI accelerate

Eurostat reported eurozone GDP grew 0.3% in the second quarter of 2023, above consensus. Core inflation for June was 5.5%, slightly above the 5.4% consensus, and headline inflation eased to 5.3%.

The euro barely moved on the data.

WHY IT MATTERS

Stronger growth and sticky core inflation keep the ECB hawkish, which supports the euro and EU demand for feed and food. Price effects on feed commodities are limited.

AFFECTSEuro (USD per EUR)◆

SOURCE
marketpulse.comKenneth FisherJul 31, 2023

Price reaction & history

Euro (USD per EUR)◆neutralSO FAR1d -0.2%5d -0.0%20d -2.3%

After 129 past neutral macro events, Euro (USD per EUR) moved a median -0.1% over 5 sessions (45% higher; middle half -0.5% to +0.5%), and +0.1% over 20.

Jan 31, 2024EUR/USD gives up gains after soft German CPI | MarketPulse by OANDA Group-0.9%
Apr 30, 2026Traders temper euro zone rate hike bets as ECB grapples with Iran war impact | MarketScreener+0.5%
Oct 30, 2025Euro zone markets steady as ECB offers no clues on outlook | 1330 & 101.5 WHBL-1.5%
Aug 29, 2025Inflation Shows No Sign of Accelerating in France, Spain as ECB Mulls Next Steps -- Update | MarketScreener+0.7%
Oct 31, 2017Loonie Falls Sharply on GDP Miss; Pound Boosted on Barnier; Eurozone Readings Mixed - ActionForex-0.2%

Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.

Euro (USD per EUR) EURUSD · GP ▸

——— · ·

Loading…