# Euro: Supported by growth surprise – Commerzbank

> Commerzbank analyst Volkmar Baur said EUR/USD moved back above 1.15 for the first time since mid-June after eurozone GDP outpaced US growth on an annualized basis. He noted a very low US savings rate as a future drag on US GDP and said recent inflation data eases the path for an ECB hike in September.

- Date: 2026-07-31 · published 2026-07-31T12:00:00.000Z
- Category: macro · region Eurozone · magnitude low
- Page: https://feedsoft.ai/events/7691-euro-supported-by-growth-surprise-commerzbank
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

Relative growth and expected ECB tightening support the euro against the dollar, which lifts dollar-priced commodity values. Baur flagged that part of the move could reverse if BoJ-related flows fade.

## Read by commodity

- EURUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2026-03-30 | [EUR/USD: Resilient as ECB activism priced – Commerzbank](https://feedsoft.ai/events/20374-eur-usd-resilient-as-ecb-activism-priced-commerzbank.md) | +0.0% | +1.7% |
| EURUSD | 2017-11-14 | [Euro rises on strong economic growth in Germany](https://feedsoft.ai/events/68187-euro-rises-on-strong-economic-growth-in-germany.md) | +0.7% | +0.6% |
| EURUSD | 2026-07-30 | [Euro: Strong GDP supports September ECB hike – BBH — Octa](https://feedsoft.ai/events/7692-euro-strong-gdp-supports-september-ecb-hike-bbh-octa.md) | +1.4% | +2.3% |
| EURUSD | 2017-06-27 | [Mario Draghi confident over euro zone growth – The Irish Times](https://feedsoft.ai/events/70720-mario-draghi-confident-over-euro-zone-growth-the-irish-times.md) | +1.5% | +4.1% |
| EURUSD | 2021-10-28 | [Dollar index drops on euro rise after ECB comments](https://feedsoft.ai/events/7166-dollar-index-drops-on-euro-rise-after-ecb-comments.md) | -0.1% | -2.6% |

## Sources

- fxstreet.com: https://www.fxstreet.com/news/euro-supported-by-growth-surprise-commerzbank-202607310738

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