
EUR/USD rose toward 1.1160 as a hawkish European Central Bank outlook supported the euro, though the article said the pair’s longer-term bias remained bearish. Oil prices fell amid rising hopes for restraint and diplomacy in the Middle East, while stronger-than-expected US payrolls reinforced expectations of another Federal Reserve rate hike.
A more hawkish ECB outlook can support the euro, while stronger US data may support the dollar and limit EUR/USD gains. Reduced perceived risk of Middle East escalation pressured crude prices.
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 312 past bearish macro events, Crude Oil (Brent) moved a median -1.7% over 5 sessions (38% higher; middle half -5.4% to +2.3%), and -1.7% over 20.
After 565 past bearish macro events, Crude Oil (WTI) moved a median -1.4% over 5 sessions (41% higher; middle half -5.9% to +3.0%), and -0.5% 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.