# ECB chief was overinterpreted by markets: sources

> Sources said ECB President Mario Draghi intended to acknowledge strong economic data and prepare markets for a possible autumn decision on the future of the 2.3 trillion euro bond-buying program, without making any commitment. Markets had over-interpreted his remarks.

- Date: 2017-06-28 · published 2017-06-28T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/70713-ecb-chief-was-overinterpreted-by-markets-sources
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Expectations of earlier ECB tapering lifted the euro and bond yields; a walk-back weakens the euro and reduces pressure on the dollar, which can ease costs for dollar-priced feed ingredients.

## Read by commodity

- DXY: bullish ▲
- EURUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2017-06-28 | [ECB says markets over-reacted to Draghi’s stimulus signals – The Irish Times](https://feedsoft.ai/events/70717-ecb-says-markets-over-reacted-to-draghi-s-stimulus-signals-the-irish-times.md) | +0.3% | +2.9% |
| EURUSD | 2021-02-26 | [Stock markets roiled by global bond whiplash \| Reuters](https://feedsoft.ai/events/9588-stock-markets-roiled-by-global-bond-whiplash-reuters.md) | -1.5% | -3.7% |
| EURUSD | 2025-04-17 | [Markets see door wide open for more ECB rate cuts on tariff hit](https://feedsoft.ai/events/25335-markets-see-door-wide-open-for-more-ecb-rate-cuts-on-tariff-hit.md) | -0.3% | -1.5% |
| EURUSD | 2021-02-26 | [EXCLUSIVE ECB's Stournaras calls for increasing bond buying to calm markets](https://feedsoft.ai/events/9589-exclusive-ecb-s-stournaras-calls-for-increasing-bond-buying-to-calm-markets.md) | -1.5% | -3.7% |
| EURUSD | 2022-06-28 | [Euro dips as markets manage expectations of ECB rate hikes \| Reuters](https://feedsoft.ai/events/41157-euro-dips-as-markets-manage-expectations-of-ecb-rate-hikes-reuters.md) | -3.3% | -4.6% |
| DXY | 2017-06-28 | [ECB says markets over-reacted to Draghi’s stimulus signals – The Irish Times](https://feedsoft.ai/events/70717-ecb-says-markets-over-reacted-to-draghi-s-stimulus-signals-the-irish-times.md) | +0.1% | -1.9% |
| DXY | 2024-11-22 | [International corn market pressured by strong dollar](https://feedsoft.ai/events/6063-international-corn-market-pressured-by-strong-dollar.md) | -0.4% | +0.6% |
| DXY | 2021-02-26 | [Stock markets roiled by global bond whiplash \| Reuters](https://feedsoft.ai/events/9588-stock-markets-roiled-by-global-bond-whiplash-reuters.md) | +0.7% | +1.9% |

## Sources

- reuters.com: https://www.reuters.com/article/world/ecb-chief-was-overinterpreted-by-markets-sources-idUSKBN19J1L3/

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