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The European Central Bank raised its deposit rate from zero to 0.75% and its main refinancing rate to 1.25%, the largest single hike in its history. The move takes rates to their highest level since 2011 as inflation broadens and risks becoming entrenched.
Higher euro-zone rates can support the euro, which strengthens the feed-importing bloc's purchasing power, but traders have shown limited reaction to rate moves while energy shocks dominate. The price effect on feed ingredients is indirect.
reuters.comSep 8, 2022After 129 past neutral macro events, EURUSD moved a median -0.1% over 5 sessions (45% higher; middle half -0.5% to +0.5%), 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.
