# Rates shift gives European currencies fresh legs | Reuters

> European currencies strengthened as markets bet that U.S. interest rates are near their peak while euro-area borrowing costs have further to rise. Inflation in Europe is seen as stickier than in the U.S. The article notes markets still expect further rate cuts later.

- Date: 2023-04-19 · published 2023-04-19T12:00:00.000Z
- Category: macro · region Europe · magnitude low
- Page: https://feedsoft.ai/events/36616-rates-shift-gives-european-currencies-fresh-legs-reuters
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A firmer euro and weaker dollar tend to make U.S. feed and grain exports more competitive abroad, which can weigh on U.S. commodity prices.

## Read by commodity

- DXY: bearish ▼
- EURUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2024-01-25 | [European Central Bank holds rates steady, gives no hint at cuts ahead](https://feedsoft.ai/events/32341-european-central-bank-holds-rates-steady-gives-no-hint-at-cuts-ahead.md) | -0.4% | -0.8% |
| EURUSD | 2023-12-15 | [FX Daily: European pushback supports local currencies \| articles \| ING THINK](https://feedsoft.ai/events/8297-fx-daily-european-pushback-supports-local-currencies-articles-ing-think.md) | -0.1% | -1.0% |
| EURUSD | 2023-11-14 | [Wall St, European stocks fly on soft U.S. inflation data \| Reuters](https://feedsoft.ai/events/10106-wall-st-european-stocks-fly-on-soft-u-s-inflation-data-reuters.md) | +2.3% | +0.8% |
| EURUSD | 2026-01-30 | [Our currency, your problem \| Reuters](https://feedsoft.ai/events/21239-our-currency-your-problem-reuters.md) | -1.2% | -1.0% |
| EURUSD | 2023-06-15 | [European markets live updates: ECB rate decision, Fed rate decision](https://feedsoft.ai/events/35701-european-markets-live-updates-ecb-rate-decision-fed-rate-decision.md) | +0.9% | +3.5% |
| DXY | 2021-08-24 | [Dollar slips further as oil rallies, commodity currencies gain \| Reuters](https://feedsoft.ai/events/12117-dollar-slips-further-as-oil-rallies-commodity-currencies-gain-reuters.md) | -0.6% | -0.1% |
| DXY | 2022-05-05 | [Asian currencies rise on less hawkish Fed, Thai baht and Indian rupee top gainers \| Reuters](https://feedsoft.ai/events/10990-asian-currencies-rise-on-less-hawkish-fed-thai-baht-and-indian-rupee-top.md) | +0.7% | -1.2% |
| DXY | 2023-12-15 | [FX Daily: European pushback supports local currencies \| articles \| ING THINK](https://feedsoft.ai/events/8297-fx-daily-european-pushback-supports-local-currencies-articles-ing-think.md) | -0.2% | +0.8% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/rates-shift-gives-european-currencies-fresh-legs-2023-04-19/

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