# Making waves – Fed spillovers are stronger and more encompassing than the ECB’s

> An ECB research article argues that Federal Reserve policy spills over to other economies more strongly than ECB policy does. It finds that Fed actions have a material effect on euro area financial conditions and economic activity.

- Date: 2021-04-15 · published 2021-04-15T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/47823-making-waves-fed-spillovers-are-stronger-and-more-encompassing-than-the-ecb-s
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

Fed-driven spillovers affect global financial conditions and the dollar, which indirectly influence commodity demand and price levels, though the link to feed markets is indirect.

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2024-05-29 | [Big moves ahead: ECB’s interest rate cut and the future of EUR/USD](https://feedsoft.ai/events/30469-big-moves-ahead-ecb-s-interest-rate-cut-and-the-future-of-eur-usd.md) | -0.0% | -1.8% |
| EURUSD | 2020-07-28 | [Rates Spark: The weaker USD, the Fed and cross currency \| articles \| ING THINK](https://feedsoft.ai/events/52298-rates-spark-the-weaker-usd-the-fed-and-cross-currency-articles-ing-think.md) | 0.0% | +0.5% |
| EURUSD | 2020-02-08 | [DOLLAR INDEX HAS A STRONG WEEK AS EURO FALLS -- GLOBAL INVESTORS ARE FAVORING U.S. ASSETS -- STRONGER $ WEAKENS COMMODITIES -- AND FOREIGN STOCK ETFS](https://feedsoft.ai/events/54511-dollar-index-has-a-strong-week-as-euro-falls-global-investors-are-favoring-u-s.md) | -1.0% | +4.3% |
| EURUSD | 2018-05-04 | [Past and future of the ECB monetary policy](https://feedsoft.ai/events/65223-past-and-future-of-the-ecb-monetary-policy.md) | -0.6% | -2.4% |
| EURUSD | 2024-08-14 | [Euro Nears Year’s High on Bet Fed Will Cut Rates Faster Than ECB](https://feedsoft.ai/events/29016-euro-nears-year-s-high-on-bet-fed-will-cut-rates-faster-than-ecb.md) | +1.4% | +0.5% |

## Sources

- ecb.europa.eu: https://www.ecb.europa.eu/press/research-publications/resbull/2021/html/ecb.rb210415~8639b73bb6.en.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.