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BNY's Geoff Yu says resilient eurozone data and a vigilant ECB now underpin the euro, leading the bank to dial back its bearish EUR/USD view. He notes strong manufacturing PMIs and sticky input cost inflation, and flags possible unwinding of EUR-funded carry trades that could force buying of the euro.
A firmer euro against the dollar lowers the dollar cost of European-priced feed ingredients and affects EU-US price competitiveness for meal and grain flows. The effect on feed commodity prices is indirect.
fxstreet.comFXStreet Insights TeamNov 4, 2026After 388 past bullish macro events, Euro (USD per EUR) moved a median +0.3% over 5 sessions (62% higher; middle half -0.4% to +1.1%), and +0.1% over 20.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% 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.
