# EUR/USD: Central banks to favor the euro - Forex Crunch

> Markets now price a Fed rate cut in March, which is weighing heavily on the dollar, while ECB president Lagarde appears to rule out immediate stimulus. The euro has risen across the board as a result.

- Date: 2020-02-28 · published 2020-02-28T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/54804-eur-usd-central-banks-to-favor-the-euro-forex-crunch
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A weaker dollar supports dollar-priced commodity exports and can lift US grain and oilseed prices. The divergence between Fed and ECB policy is the main currency driver.

## Read by commodity

- DXY: bearish ▼
- EURUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2024-03-06 | [Euro is back on the scene for global central banks](https://feedsoft.ai/events/31421-euro-is-back-on-the-scene-for-global-central-banks.md) | +0.5% | -0.8% |
| EURUSD | 2020-03-02 | [EUR/USD defies gravity on relentless unwind of the carry trade - Forex Crunch](https://feedsoft.ai/events/6186-eur-usd-defies-gravity-on-relentless-unwind-of-the-carry-trade-forex-crunch.md) | +2.9% | +0.5% |
| EURUSD | 2022-02-19 | [End of European Central Bank’s reign as dovish bastion likely to spark rebound for euro \| The National](https://feedsoft.ai/events/42902-end-of-european-central-bank-s-reign-as-dovish-bastion-likely-to-spark-rebound.md) | -0.9% | -2.5% |
| EURUSD | 2018-09-30 | [DXY to come off: we like to buy into any dip below 1.1550 in EUR/USD - Nordea - Forex Crunch](https://feedsoft.ai/events/63254-dxy-to-come-off-we-like-to-buy-into-any-dip-below-1-1550-in-eur-usd-nordea.md) | -1.0% | -2.0% |
| EURUSD | 2017-06-30 | [Markets Continue To Adjust To Hawkish Shift From Central Banks - ActionForex](https://feedsoft.ai/events/70754-markets-continue-to-adjust-to-hawkish-shift-from-central-banks-actionforex.md) | -0.2% | +2.9% |
| DXY | 2024-03-06 | [Euro is back on the scene for global central banks](https://feedsoft.ai/events/31421-euro-is-back-on-the-scene-for-global-central-banks.md) | -0.6% | +0.3% |
| DXY | 2020-03-02 | [EUR/USD defies gravity on relentless unwind of the carry trade - Forex Crunch](https://feedsoft.ai/events/6186-eur-usd-defies-gravity-on-relentless-unwind-of-the-carry-trade-forex-crunch.md) | -0.8% | +4.0% |
| DXY | 2017-01-31 | [Trump Trouble: USD/JPY remains on the back foot - Forex Crunch](https://feedsoft.ai/events/73229-trump-trouble-usd-jpy-remains-on-the-back-foot-forex-crunch.md) | -0.6% | -0.6% |

## Sources

- forexcrunch.com: https://www.forexcrunch.com/blog/2020/02/28/eur-usd-central-banks-to-favor-the-euro/

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