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European markets gained as investors awaited ECB President Mario Draghi's remarks on policy. The rise in the euro's exchange rate is complicating the central bank's decisions.
Currency moves tied to ECB policy expectations shift dollar valuations, which feeds into the relative price competitiveness of dollar-priced feed commodities in export markets.
After 388 past bullish macro events, Euro (USD per EUR) moved a median +0.3% over 5 sessions (62% higher; middle half -0.4% to +1.1%), and +0.1% 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.