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ECB President Draghi said the euro area economy is in a solid expansion, with GDP rising for 18 straight quarters and global PMIs strong. He said world trade is growing at its fastest annual rate in six years, but inflation remains subdued, so the ECB needs a patient approach to policy.
Stronger euro area and world trade growth supports feed demand from Europe, but the ECB's stance of keeping policy accommodative limits near-term currency moves that affect dollar-priced commodities.
ecb.europa.euEuropean Central BankNov 17, 2017After 1,108 past macro events, EURUSD moved a median -0.1% over 5 sessions (46% higher; middle half -0.7% to +0.6%), and -0.3% 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.
