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ECB President Mario Draghi and Vice-President Vítor Constâncio kept key interest rates unchanged and said rates would stay at current levels well past the end of net asset purchases. The ECB affirmed €60 billion in monthly purchases through December 2017 and said it would discuss the path of tightening later.
The policy stance is steady and gradual, so euro moves on this statement are likely to be modest, with limited spillover to dollar-priced feed commodities.
ecb.europa.euEuropean Central BankJul 20, 2017After 129 past neutral macro events, Euro (USD per EUR) moved a median -0.1% over 5 sessions (45% higher; middle half -0.5% to +0.5%), 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.
