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An ECB Economic Bulletin analysis says euro area energy import values rose sharply after energy prices surged from the second half of 2021, pushing energy imports more than 40% above pre-pandemic levels. The terms of trade deteriorated, reducing real income and weighing on the current account.
Higher energy import costs squeeze euro area purchasing power and raise the cost of energy-linked inputs such as fuel and fertiliser. This sustains upward pressure on feed production costs in the region.
ecb.europa.euGunnella, Vanessa, Schuler, TobiasApr 25, 2022After 323 past bullish macro events, Crude Oil (Brent) moved a median +0.7% over 5 sessions (58% higher; middle half -2.9% to +3.7%), and +1.3% over 20.
After 155 past bullish macro events, Natural Gas moved a median +0.1% over 5 sessions (51% higher; middle half -4.0% to +7.1%), and +2.0% 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.
