# Introductory statement to the press conference (with Q&A)

> 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.

- Date: 2020-06-04 · published 2020-06-04T12:00:00.000Z
- Category: macro · region Euro area · magnitude low
- Page: https://feedsoft.ai/events/52839-introductory-statement-to-the-press-conference-with-q-and-a
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

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.

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2017-03-09 | [Introductory statement to the press conference (with Q&A)](https://feedsoft.ai/events/72197-introductory-statement-to-the-press-conference-with-q-and-a.md) | +0.8% | +1.1% |
| EURUSD | 2019-01-24 | [Introductory statement to the press conference (with Q&A)](https://feedsoft.ai/events/61303-introductory-statement-to-the-press-conference-with-q-and-a.md) | +0.2% | -0.4% |
| EURUSD | 2021-06-10 | [Introductory statement to the press conference (with Q&A)](https://feedsoft.ai/events/46806-introductory-statement-to-the-press-conference-with-q-and-a.md) | -0.5% | -2.8% |
| EURUSD | 2019-06-06 | [Introductory statement to the press conference (with Q&A)](https://feedsoft.ai/events/58807-introductory-statement-to-the-press-conference-with-q-and-a.md) | +0.6% | +0.3% |
| EURUSD | 2019-12-12 | [Introductory statement to the press conference (with Q&A)](https://feedsoft.ai/events/55778-introductory-statement-to-the-press-conference-with-q-and-a.md) | +0.2% | +0.2% |

## Sources

- ecb.europa.eu: https://www.ecb.europa.eu/press/press_conference/monetary-policy-statement/2020/html/ecb.is200604~b479b8cfff.en.html

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