Loading…
The ECB raised its pandemic emergency purchase programme from €1.35 trillion to €1.85 trillion and extended it to at least March 2022. It also extended cheap bank financing at rates as low as minus 1 percent until June 2022.
The bank expects the euro-zone economy to contract 2.2 percent in the fourth quarter.
Larger bond buying and cheap bank credit weaken the euro relative to the dollar and support risk assets and commodity demand. The added liquidity is a moderate tailwind for the broader commodity complex.
irishtimes.comMartin ArnoldDec 10, 2020After 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.
