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The euro had risen about 5% from its late-February lows ahead of the European Central Bank's rate meeting. Bloomberg reported that the advance was putting pressure on the ECB.
The Federal Reserve was described as reacting faster to the global virus growth shock.
A stronger euro reduces the dollar index, which can support dollar-priced commodities, but expectations of a central bank response can also shift the balance quickly. The story is a currency preview with limited direct effect on feed supply or demand.
bloomberg.comMichael Hunter, Piotr SkolimowskiMar 6, 2020After 388 past bullish macro events, Euro (USD per EUR) moved a median +0.3% over 5 sessions (62% higher; middle half -0.4% to +1.1%), 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.
