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The ECB's Economic Bulletin says the euro area expanded at a robust pace that accelerated more than expected in late 2017. Growth momentum and falling slack strengthened the ECB's confidence that inflation will converge toward its target.
It also flags that the euro rose against the US dollar and that exchange-rate volatility needs monitoring.
A firmer euro against the dollar tends to weigh on dollar-denominated grain and oilseed prices for European buyers and can soften US export competitiveness. Strong euro-area growth also supports feed demand in the region.
ecb.europa.euPrepared by Ursel Baumann, Allan Gloe DizioliFeb 8, 2018After 1,637 past bearish macro events, DXY moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% 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.
