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Euro zone banks are set to repay nearly 300 billion euros to the European Central Bank the following week, the largest cash withdrawal from the euro system in the euro's 22-year history. The repayments follow ECB moves to raise borrowing costs against record euro zone inflation.
Draining liquidity tightens euro financial conditions and can support the euro against the dollar, which affects dollar-denominated feed commodity prices and import costs for European buyers.
reuters.comFrancesco CanepaNov 18, 2022After 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.
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.
