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EUR/USD hit two-week lows in Asian trade after markets pushed back ECB rate-hike expectations to the end of 2020. German factory orders posted their biggest drop since 2012, and the Ifo index turned negative for the first time since 2014.
The deposit rate is expected to stay below zero until mid-2021.
Delayed ECB tightening and a weak German economy support a weaker euro against the dollar. That shifts the cost of dollar-priced commodity imports for European feed buyers.
octaafrica.netFeb 7, 2019After 533 past bearish macro events, Euro (USD per EUR) moved a median -0.3% over 5 sessions (33% higher; middle half -1.2% to +0.2%), and -0.5% 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.
