# Roaring Euro Turns to ECB Rate Decision - ActionForex

> Markets priced in a 50bp ECB hike at the Thursday decision, so the euro's reaction was expected to depend on President Lagarde's commentary. The piece noted resilient eurozone activity after a warm winter, with natural gas prices back near pre-war levels, while business surveys showed stagnation and inflation remained elevated.

- Date: 2023-01-31 · published 2023-01-31T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/38003-roaring-euro-turns-to-ecb-rate-decision-actionforex
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

Lower European gas prices and steady ECB tightening shape the euro's direction against the dollar, which in turn affects dollar-denominated commodity prices and import costs.

## Read by commodity

- EURUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2023-03-16 | [Euro rises, dollar falls after ECB rate decision](https://feedsoft.ai/events/10083-euro-rises-dollar-falls-after-ecb-rate-decision.md) | +2.4% | +4.3% |
| EURUSD | 2021-10-29 | [Euro US Dollar Exchange Rate Jumps On ECB Rate Decision And US GDP](https://feedsoft.ai/events/44756-euro-us-dollar-exchange-rate-jumps-on-ecb-rate-decision-and-us-gdp.md) | -1.2% | -3.6% |
| 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% |
| EURUSD | 2017-09-07 | [ECB cites inflation-dampening euro rate as policy factor](https://feedsoft.ai/events/69161-ecb-cites-inflation-dampening-euro-rate-as-policy-factor.md) | -0.4% | -1.5% |
| EURUSD | 2017-10-27 | [Decisions taken by the Governing Council of the ECB (in addition to decisions setting interest rates)](https://feedsoft.ai/events/68668-decisions-taken-by-the-governing-council-of-the-ecb-in-addition-to-decisions.md) | -0.2% | +1.8% |

## Sources

- actionforex.com: https://www.actionforex.com/contributors/fundamental-analysis/484131-roaring-euro-turns-to-ecb-rate-decision/

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