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The euro zone's Eonia rate will be fixed at 8.5 basis points above the ECB's new €STR reference rate from October 2, the ECB said on Friday. Eonia is being discontinued due to low volumes, and banks will gradually shift their contracts to €STR.
A private sector working group recommended fixing the spread during the transition.
This is a benchmark rate transition for euro money markets with no direct effect on commodity supply, demand or prices.
reuters.comMay 31, 2019After 12 past policy events, EURUSD moved a median +0.3% over 5 sessions (75% higher; middle half -0.1% to +1.0%), and +0.7% 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.
