# Euro rises from 22-month lows as Ukraine crisis grips

> The euro recovered from 22-month lows against the dollar, lifted by expectations of higher euro zone fiscal spending to offset the Russia-Ukraine shock. Brent crude fell back from a 14-year high near $140 but was still up sharply on the day at about $131.

- Date: 2022-03-08 · published 2022-03-08T12:00:00.000Z
- Category: macro · region Europe · magnitude medium
- Page: https://feedsoft.ai/events/9524-euro-rises-from-22-month-lows-as-ukraine-crisis-grips
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Expected euro zone fiscal stimulus strengthens the euro and weakens the dollar index, which tends to support dollar-denominated commodity prices. Brent's volatility feeds through to diesel, freight and biofuel costs for feed producers.

## Read by commodity

- DXY: bearish ▼
- BRENT: bearish ▼
- EURUSD: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| EURUSD | 2022-03-09 | 1 | +1.7% | 3.6 | Euro rebounded from 22-month lows on 03-08 on expectations of higher euro zone fiscal spending and Brent retreating from its peak, setting up the 03-09 follow-through. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2020-11-26 | [Euro rises to near 3-month high as US dollar falls - The Business Times](https://feedsoft.ai/events/50370-euro-rises-to-near-3-month-high-as-us-dollar-falls-the-business-times.md) | +2.0% | +2.9% |
| EURUSD | 2021-04-19 | [Goldman Sachs backs the euro as the dollar hits two-month lows](https://feedsoft.ai/events/47789-goldman-sachs-backs-the-euro-as-the-dollar-hits-two-month-lows.md) | +0.7% | +1.3% |
| EURUSD | 2022-05-23 | [Dollar Vs. Euro: Greenback Hits One-Month Low As ECB Eyes Rate Hikes - Markets Insider](https://feedsoft.ai/events/41613-dollar-vs-euro-greenback-hits-one-month-low-as-ecb-eyes-rate-hikes-markets.md) | +1.4% | -0.1% |
| EURUSD | 2022-05-24 | [Dollar at one-month low as Lagarde comments lift euro \| Financial Newsletter](https://feedsoft.ai/events/12691-dollar-at-one-month-low-as-lagarde-comments-lift-euro-financial-newsletter.md) | +0.6% | -0.8% |
| EURUSD | 2026-04-30 | [Euro Rises to $1.17 as ECB Leaves Options Open](https://feedsoft.ai/events/19942-euro-rises-to-1-17-as-ecb-leaves-options-open.md) | +0.5% | -0.4% |
| DXY | 2020-11-26 | [Euro rises to near 3-month high as US dollar falls - The Business Times](https://feedsoft.ai/events/50370-euro-rises-to-near-3-month-high-as-us-dollar-falls-the-business-times.md) | -1.2% | -1.5% |
| DXY | 2023-08-29 | [Dollar drops on jobs data, yen rises from 10-month low \| Reuters](https://feedsoft.ai/events/34780-dollar-drops-on-jobs-data-yen-rises-from-10-month-low-reuters.md) | +0.9% | +1.8% |
| DXY | 2021-04-19 | [Goldman Sachs backs the euro as the dollar hits two-month lows](https://feedsoft.ai/events/47789-goldman-sachs-backs-the-euro-as-the-dollar-hits-two-month-lows.md) | -0.3% | -1.2% |

## Sources

- rte.ie: https://www.rte.ie/news/business/2022/0308/1285066-euro-movements/

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