
The euro gave up its early gains against the dollar on Thursday, with EUR/USD near 1.1228 after a session high of 1.1268. The Dollar Index recovered to about 101.54 despite political headwinds and a sharp fall in oil prices.
Eurozone flash inflation expectations strengthened the case for further ECB hikes.
Currency swings of this size shift the relative cost of US and European feed purchases only slightly. Oil's drop is the more relevant price factor for biofuel and freight costs.
After 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.
After 359 past neutral macro events, US Dollar (Broad) moved a median -0.0% over 5 sessions (49% higher; middle half -0.4% to +0.4%), 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.