
EUR/USD rallied as falling Treasury yields weakened the dollar despite US third-quarter GDP growth of 3.4% annualized and sticky core PCE inflation. The ECB held its deposit rate at 2.5% with a hawkish tone, and a December hike remains in play.
A weaker dollar and firmer euro reduce the dollar cost of dollar-priced feed imports for European buyers, while rising energy prices feed through to input costs.
After 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.