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The ECB's Economic Bulletin says the start of vaccination campaigns is an important milestone, but renewed infections and containment measures are disrupting euro area activity. Output is likely to have contracted in Q4 2020 and inflation remains very low.
The bank says ample monetary stimulus remains essential.
Weak euro area demand and continued accommodative policy keep the euro under pressure, which can influence dollar-denominated feed and oilseed pricing for European buyers.
ecb.europa.euPrepared by Alina Bobasu, Luigi Crucil, Alistair Dieppe, Marcel TirpákFeb 4, 2021After 533 past bearish macro events, EURUSD 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.
