# FX Daily: ECB slams brakes on growth and the euro | articles | ING THINK

> The ECB delivered a hawkish message at its December meeting, and the dollar rallied against high-beta commodity currencies. Overnight deposit rates in the US were 4.35% at the time, and the yield curves in the US and euro zone stayed inverted.

- Date: 2022-12-16 · published 2022-12-16T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/38436-fx-daily-ecb-slams-brakes-on-growth-and-the-euro-articles-ing-think
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

Slowdown fears and a stronger dollar tend to weigh on commodity prices and make dollar-priced grain and oilseeds less attractive to importers. The pressure is mainly through currency and growth expectations.

## Read by commodity

- DXY: bullish ▲
- EURUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2024-11-21 | [FX Daily: Soft euro story dominates \| articles \| ING THINK](https://feedsoft.ai/events/27713-fx-daily-soft-euro-story-dominates-articles-ing-think.md) | -0.0% | +1.4% |
| DXY | 2023-10-27 | [FX Daily: Stark growth gap makes the dollar even harder to sell \| articles \| ING THINK](https://feedsoft.ai/events/33842-fx-daily-stark-growth-gap-makes-the-dollar-even-harder-to-sell-articles-ing.md) | -0.9% | -3.1% |
| DXY | 2024-04-17 | [FX Daily: The big unwinding \| articles \| ING THINK](https://feedsoft.ai/events/30940-fx-daily-the-big-unwinding-articles-ing-think.md) | -0.3% | -1.0% |
| DXY | 2024-02-05 | [FX Daily: Flip Flop \| articles \| ING THINK](https://feedsoft.ai/events/31892-fx-daily-flip-flop-articles-ing-think.md) | +0.1% | -0.0% |
| DXY | 2020-03-13 | [FX daily: Dislocation, dislocation, dislocation \| articles \| ING THINK](https://feedsoft.ai/events/6276-fx-daily-dislocation-dislocation-dislocation-articles-ing-think.md) | +3.8% | +1.6% |
| EURUSD | 2024-11-21 | [FX Daily: Soft euro story dominates \| articles \| ING THINK](https://feedsoft.ai/events/27713-fx-daily-soft-euro-story-dominates-articles-ing-think.md) | +0.5% | -1.6% |
| EURUSD | 2023-10-27 | [FX Daily: Stark growth gap makes the dollar even harder to sell \| articles \| ING THINK](https://feedsoft.ai/events/33842-fx-daily-stark-growth-gap-makes-the-dollar-even-harder-to-sell-articles-ing.md) | +0.8% | +3.8% |
| EURUSD | 2021-06-17 | [FX Daily: The Fed disrupting the calm \| articles \| ING THINK](https://feedsoft.ai/events/6129-fx-daily-the-fed-disrupting-the-calm-articles-ing-think.md) | -1.4% | -2.6% |

## Sources

- think.ing.com: https://think.ing.com/articles/fx-daily-ecb-slams-brakes-on-growth-and-the-euro/

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