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ING analysts expected the April ECB meeting to have little impact on the euro because the bank offered no new information. They said the euro remained undervalued against the dollar, with the EUR/USD uptrend likely to continue.
A stronger euro against the dollar would reduce the dollar price of commodities priced in USD, which tends to support prices for US-origin exports.
think.ing.comCarsten BrzeskiApr 21, 2021After 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.
