ECB President Lagarde's introductory statement said activity has rebounded strongly but remains well below pre-pandemic levels. The ECB reconfirmed its accommodative monetary stance, saying ample stimulus is needed to support recovery and price stability.
Headline inflation is being held down by low energy prices and weak demand.
Continued ECB easing supports a weaker euro over time, which affects dollar-based feed trade flows and the relative competitiveness of euro-zone livestock and feed purchases.
After 129 past neutral macro events, Euro (USD per EUR) moved a median -0.1% over 5 sessions (45% higher; middle half -0.5% to +0.5%), and +0.1% over 20.
After 359 past neutral macro events, US Dollar (Broad) moved a median -0.0% over 5 sessions (49% higher; middle half -0.4% to +0.4%), 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.