# EU brings industry together to tackle dollar dominance in energy trade

> The European Union has set up a wide-ranging industrial group to promote the euro in energy trade and reduce the dominance of the US dollar. The article says the dollar's dominance stems from its greater liquidity and lower transaction costs. The text is truncated.

- Date: 2019-02-13 · published 2019-02-13T12:00:00.000Z
- Category: policy · region EU · magnitude low
- Page: https://feedsoft.ai/events/60826-eu-brings-industry-together-to-tackle-dollar-dominance-in-energy-trade
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

A push to settle more energy trade in euros could affect currency flows used to price commodities. Any change would be gradual and has little near-term effect on feed prices.

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2018-12-05 | [EU pushes for broader global use of euro to challenge dollar](https://feedsoft.ai/events/61769-eu-pushes-for-broader-global-use-of-euro-to-challenge-dollar.md) | +0.1% | +1.1% |
| EURUSD | 2025-03-05 | [European markets soar as Germany moves to lift ‘debt brake’ and raise defence spending \| Germany \| The Guardian](https://feedsoft.ai/events/5804-european-markets-soar-as-germany-moves-to-lift-debt-brake-and-raise-defence.md) | +3.7% | +2.5% |
| EURUSD | 2026-10-01 | [EURUSD extends its decline 📉 Are high energy prices weighing on Europe? \| XTB](https://feedsoft.ai/events/9654-eurusd-extends-its-decline-are-high-energy-prices-weighing-on-europe-xtb.md) | -1.4% | -1.6% |
| EURUSD | 2019-04-10 | [Introductory statement to the press conference (with Q&A)](https://feedsoft.ai/events/59797-introductory-statement-to-the-press-conference-with-q-and-a.md) | +0.1% | -0.9% |
| EURUSD | 2017-01-31 | [Euro spikes after Trump's trade adviser says Germany is using 'grossly undervalued' currency](https://feedsoft.ai/events/73173-euro-spikes-after-trump-s-trade-adviser-says-germany-is-using-grossly.md) | +0.5% | -0.6% |

## Sources

- reuters.com: https://www.reuters.com/article/idUSKCN1Q21WB/

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