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ING analysts said EUR/USD trading above 1.20 would cause concern at the ECB, but the central bank has little ability to stop the euro's rise. The euro has gained about 5% since the ECB's July meeting.
ING expects the ECB's September staff projections to be trimmed for the stronger currency.
A stronger euro makes dollar-priced commodities cheaper for euro-area buyers and weakens the dollar's relative pull on US export competitiveness. It is a modest factor for feed grain and meal demand.
think.ing.comChris Turner, Carsten BrzeskiAug 30, 2017After 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.
