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Following the ECB meeting, the euro came under selling pressure as the ECB cut eurozone growth forecasts for 2018 and 2019 while formally ending its asset purchase program. EURUSD fell to 1.129 as the US dollar approached new 2018 highs.
A stronger dollar tends to pressure dollar-denominated grain and oilseed prices and makes US feed commodities more expensive for euro-area buyers.
exchangerates.org.ukJames ElliotDec 14, 2018After 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.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% 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.
