# Euro Hammered as ECB's Concerned with Currency Strength, Dollar Outshone by Canadian Dollar - ActionForex

> The euro fell on August 31 after reports that unnamed ECB officials were concerned about its strength and that the ECB might hold off on a firm tapering plan at its September meeting. The dollar regained ground on solid US data, and the Canadian dollar was the strongest G10 currency after stronger Canadian GDP. Eurozone CPI was stronger than expected.

- Date: 2017-08-31 · published 2017-08-31T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/69666-euro-hammered-as-ecb-s-concerned-with-currency-strength-dollar-outshone-by
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md), [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Expectations of ECB restraint and a firmer dollar weigh on the euro and can pressure dollar-priced commodities. Canadian dollar strength raises the cost of Canadian canola and feed exports.

## Read by commodity

- EURUSD: bearish ▼
- USDCAD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2017-10-27 | [ECB Hammers The Euro, USD To Shine Again - ActionForex](https://feedsoft.ai/events/68674-ecb-hammers-the-euro-usd-to-shine-again-actionforex.md) | -0.2% | +1.8% |
| EURUSD | 2018-04-26 | [Strong Yields Boost Dollar Awaiting ECB - ActionForex](https://feedsoft.ai/events/65730-strong-yields-boost-dollar-awaiting-ecb-actionforex.md) | -1.7% | -4.0% |
| EURUSD | 2019-08-01 | [Dollar Powered Up by Fed Powell, Broke Key Resistance Against Euro - ActionForex](https://feedsoft.ai/events/10781-dollar-powered-up-by-fed-powell-broke-key-resistance-against-euro-actionforex.md) | +1.0% | -0.4% |
| EURUSD | 2024-11-12 | [(EUR/USD) Euro Parity With Dollar Is the Big New Call by Currency Analysts - Bloomberg](https://feedsoft.ai/events/7557-eur-usd-euro-parity-with-dollar-is-the-big-new-call-by-currency-analysts.md) | -1.2% | -1.8% |
| EURUSD | 2020-10-29 | [Euro Down after ECB, Oil Tumbles, Dollar and Yen Rise - ActionForex](https://feedsoft.ai/events/50842-euro-down-after-ecb-oil-tumbles-dollar-and-yen-rise-actionforex.md) | -0.2% | +1.7% |

## Sources

- actionforex.com: https://www.actionforex.com/action-insight/market-overview/39125-euro-hammered-as-ecb-s-concerned-with-currency-strength-dollar-outshone-by-canadian-dollar/

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