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ECB Executive Board member Fabio Panetta, in a Nikkei interview, said the euro area recovery is improving with an expected rebound in the second half of 2021 driven by vaccinations, firmer global demand and EU recovery funds. He cautioned that euro area GDP remains 5.5% below pre-pandemic levels and that the economy still relies heavily on monetary and fiscal support.
A slow euro area recovery and continued accommodative policy tend to keep the euro under pressure against the dollar, which affects dollar-denominated feed commodity prices for European buyers. The direct effect on feed grain and oilseed prices is limited.
ecb.europa.euEuropean Central BankMay 26, 2021After 533 past bearish macro events, Euro (USD per EUR) moved a median -0.3% over 5 sessions (33% higher; middle half -1.2% to +0.2%), and -0.5% 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.
