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The ECB's president Christine Lagarde and Vice-President Luis de Guindos opened the 4 June 2020 press conference by describing an unprecedented contraction in the euro area economy. They said the June staff projections show growth falling sharply in the second quarter before rebounding in the second half, with a substantial downward revision to activity and inflation.
Headline inflation is being held down by lower energy prices.
A weaker euro outlook and subdued inflation keep the ECB easing, which tends to weaken the euro against the dollar and can support dollar-priced commodities. The direct effect on feed commodity prices is limited.
ecb.europa.euEuropean Central BankJun 4, 2020After 1,108 past macro events, Euro (USD per EUR) moved a median -0.1% over 5 sessions (46% higher; middle half -0.7% to +0.6%), and -0.3% 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.
