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ING says the ECB's 12 December meeting brought no major surprises and that the ECB is not expected to tighten policy soon. It expects the euro to remain a preferred funding currency through 2020 with limited upside against the dollar.
A euro that stays weak against the dollar, with little prospect of tightening, makes dollar-priced feed imports relatively more expensive for euro buyers. The effect is modest.
think.ing.comDec 12, 2019After 129 past neutral macro events, Euro (USD per EUR) moved a median -0.1% over 5 sessions (45% higher; middle half -0.5% to +0.5%), 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.
