# ECB & EUR: Pouring oil into the fire | articles | ING THINK

> ING analysis says the ECB's March 12 package was modest, with no rate cut and only muted quantitative easing. The analysis says the lack of conviction from ECB President Christine Lagarde, including her remark that the bank was not there to close spreads, reintroduced risk premium into the euro. The note argues that the ball is now in the Federal Reserve's court.

- Date: 2020-03-12 · published 2020-03-12T12:00:00.000Z
- Category: macro · region Euro area · magnitude low
- Page: https://feedsoft.ai/events/54328-ecb-and-eur-pouring-oil-into-the-fire-articles-ing-think
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

Weaker euro sentiment means a firmer dollar, which tends to weigh on dollar-priced commodities and raises import costs for euro zone buyers. The effect on feed markets is indirect and depends on whether the Federal Reserve responds.

## Read by commodity

- EURUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2019-11-28 | [EUR: The funding currency \| articles \| ING THINK](https://feedsoft.ai/events/56282-eur-the-funding-currency-articles-ing-think.md) | +0.9% | +1.6% |
| EURUSD | 2022-12-16 | [FX Daily: ECB slams brakes on growth and the euro \| articles \| ING THINK](https://feedsoft.ai/events/38436-fx-daily-ecb-slams-brakes-on-growth-and-the-euro-articles-ing-think.md) | -0.5% | +1.5% |
| EURUSD | 2024-04-17 | [A falling euro is not the ECB’s biggest headache \| articles \| ING THINK](https://feedsoft.ai/events/30944-a-falling-euro-is-not-the-ecb-s-biggest-headache-articles-ing-think.md) | +0.6% | +1.8% |
| EURUSD | 2023-03-15 | [FX Markets: Pressure switches to Europe \| articles \| ING THINK](https://feedsoft.ai/events/10079-fx-markets-pressure-switches-to-europe-articles-ing-think.md) | +0.4% | +1.7% |
| EURUSD | 2022-03-16 | [EUR/USD: Not as cheap as it looks \| articles \| ING THINK](https://feedsoft.ai/events/42470-eur-usd-not-as-cheap-as-it-looks-articles-ing-think.md) | +0.4% | -1.1% |

## Sources

- think.ing.com: https://think.ing.com/articles/ecb-eur-purring-oil-into-the-fire/

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