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The ECB slowed its pace of interest rate increases after a record-size hike in earlier months, citing a barely growing euro zone economy and tightening bank credit. Policymakers signaled further tightening remained likely.
Slower ECB tightening reduces the euro's rate advantage and can weigh on the currency, indirectly influencing dollar-priced feed ingredient costs for European buyers.
reuters.comBalazs KoranyiMay 3, 2023After 533 past bearish macro events, Euro (USD per EUR) moved a median -0.3% over 5 sessions (33% higher; middle half -1.2% to +0.2%), and -0.5% over 20.
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.
