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The ECB kept its key interest rates unchanged and said it expects them to stay at current levels at least through summer 2019. Draghi said incoming data have been weaker than expected, citing softer external demand and risks from geopolitics and protectionism.
The ECB will keep reinvesting maturing asset purchase principal.
A dovish ECB outlook weighs on the euro against the dollar, which can lift dollar-denominated commodity prices and affect euro-area feed demand. The impact on feed prices is moderate.
ecb.europa.euEuropean Central BankJan 24, 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.
