# Euro climbs after Draghi says global recovery is firming up

> The euro reached its highest level in over two years against the dollar on August 25 after ECB President Draghi did not criticise its strength in his Jackson Hole speech. He instead said the global recovery was firming. The dollar index fell to a one-year low after Fed Chair Yellen also avoided comment on US policy.

- Date: 2017-08-25 · published 2017-08-25T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/69664-euro-climbs-after-draghi-says-global-recovery-is-firming-up
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A weaker dollar tends to support dollar-denominated grain and oilseed prices, while a stronger euro reduces the competitiveness of euro-area exports. The move is a modest price factor for feed markets.

## Read by commodity

- DXY: bearish ▼
- EURUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2020-08-31 | [A weak dollar is impacting an uneven global market recovery](https://feedsoft.ai/events/51828-a-weak-dollar-is-impacting-an-uneven-global-market-recovery.md) | -0.7% | -2.0% |
| EURUSD | 2018-10-25 | [Euro rises versus dollar after ECB's Draghi predicts inflation pick up](https://feedsoft.ai/events/62753-euro-rises-versus-dollar-after-ecb-s-draghi-predicts-inflation-pick-up.md) | -0.5% | -0.5% |
| EURUSD | 2022-02-04 | [Euro climbs after ECB's 'ground-breaking' hawkish turn - Markets - Business Recorder](https://feedsoft.ai/events/9874-euro-climbs-after-ecb-s-ground-breaking-hawkish-turn-markets-business-recorder.md) | +0.5% | -4.5% |
| EURUSD | 2019-04-30 | [EUR/USD Recovers 1.12 Handle after GDP and German Inflation Data Offer Glimpse of Recovery](https://feedsoft.ai/events/59793-eur-usd-recovers-1-12-handle-after-gdp-and-german-inflation-data-offer-glimpse.md) | +0.3% | +0.1% |
| EURUSD | 2024-03-06 | [Euro is back on the scene for global central banks](https://feedsoft.ai/events/31421-euro-is-back-on-the-scene-for-global-central-banks.md) | +0.5% | -0.8% |
| DXY | 2020-08-31 | [A weak dollar is impacting an uneven global market recovery](https://feedsoft.ai/events/51828-a-weak-dollar-is-impacting-an-uneven-global-market-recovery.md) | +0.1% | +1.4% |
| DXY | 2022-02-04 | [Euro climbs after ECB's 'ground-breaking' hawkish turn - Markets - Business Recorder](https://feedsoft.ai/events/9874-euro-climbs-after-ecb-s-ground-breaking-hawkish-turn-markets-business-recorder.md) | -0.3% | +1.5% |
| DXY | 2023-12-13 | [Gold climbs over 1% after Fed signals end of rate hikes \| Reuters](https://feedsoft.ai/events/32470-gold-climbs-over-1-after-fed-signals-end-of-rate-hikes-reuters.md) | -1.0% | -0.7% |

## Sources

- cnbc.com: https://www.cnbc.com/2017/08/24/dollar-buoyant-vs-yen-as-spotlight-falls-on-monetary-policy-inflation-puzzle.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.