◂ Event Timeline

Feb 2, 2023MACROEurope

ECB raises rates, signals at least one more hike

The ECB has been raising rates at a record pace to fight inflation driven by pandemic aftereffects and the energy crisis after Russia's invasion of Ukraine. The bank has signaled at least one more hike ahead.

WHY IT MATTERS

Continued euro-area tightening supports the euro against the dollar, which can ease dollar-based pressure on commodity prices.

AFFECTSEuro (USD per EUR)▲

SOURCE
reuters.comFrancesco CanepaFeb 2, 2023

Price reaction & history

Euro (USD per EUR)▲bullishSO FAR1d +0.0%5d -1.7%20d -2.9%

After 388 past bullish macro events, Euro (USD per EUR) moved a median +0.3% over 5 sessions (62% higher; middle half -0.4% to +1.1%), and +0.1% over 20.

Dec 15, 2022ECB raises interest rates by 0.5%, signals more to come-0.5%
Feb 2, 2023ECB hikes rates, promises another 50 bps more in March-1.7%
Jul 30, 2026Euro Rises on Strong Eurozone Data and ECB Rate Hike Bets+1.4%
Dec 15, 2022ECB raises rates again, outlines balance sheet run off-0.5%
Jan 25, 2022Euro Forecasts Upgraded at Deutsche Bank, says ECB to Hike Rates in December-0.9%

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…