# Euro jumps after hawkish comments from ECB's Lagarde

> The euro rose against the dollar after ECB President Christine Lagarde acknowledged inflation running hotter than expected with upside risks, while the central bank kept its guidance and bond purchases unchanged. Money markets moved to price in ECB rate hikes later in 2022, with the euro at $1.1411.

- Date: 2022-02-03 · published 2022-02-03T12:00:00.000Z
- Category: macro · region Euro Zone · magnitude medium
- Page: https://feedsoft.ai/events/9869-euro-jumps-after-hawkish-comments-from-ecb-s-lagarde
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Expectations of tighter ECB policy lift the euro and weigh on the dollar, which affects dollar-denominated commodity prices and the cost of imported inputs for European and emerging-market feed buyers.

## Read by commodity

- DXY: bearish ▼
- EURUSD: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| EURUSD | 2022-02-04 | 5 | +2.6% | 3.5 | Lagarde's hawkish comments on Feb 3 triggered a euro jump as markets priced in 2022 ECB hikes, the main driver of the week's gain. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2021-10-28 | [Dollar index drops on euro rise after ECB comments](https://feedsoft.ai/events/7166-dollar-index-drops-on-euro-rise-after-ecb-comments.md) | -0.1% | -2.6% |
| EURUSD | 2022-05-24 | [Euro extends gains after Lagarde's bullish remarks](https://feedsoft.ai/events/12689-euro-extends-gains-after-lagarde-s-bullish-remarks.md) | +0.6% | -0.8% |
| EURUSD | 2023-07-01 | [Dollar weaker after data burst, euro rises on ECB comments](https://feedsoft.ai/events/35680-dollar-weaker-after-data-burst-euro-rises-on-ecb-comments.md) | +0.7% | +0.9% |
| EURUSD | 2022-02-04 | [Euro climbs after ECB's 'ground-breaking' hawkish turn - Markets - Business Recorder](https://feedsoft.ai/events/9874-euro-climbs-after-ecb-s-ground-breaking-hawkish-turn-markets-business-recorder.md) | +0.5% | -4.5% |
| 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% |
| DXY | 2021-10-28 | [Dollar index drops on euro rise after ECB comments](https://feedsoft.ai/events/7166-dollar-index-drops-on-euro-rise-after-ecb-comments.md) | +0.6% | +2.5% |
| DXY | 2022-05-24 | [Euro extends gains after Lagarde's bullish remarks](https://feedsoft.ai/events/12689-euro-extends-gains-after-lagarde-s-bullish-remarks.md) | -0.5% | +1.5% |
| DXY | 2023-07-01 | [Dollar weaker after data burst, euro rises on ECB comments](https://feedsoft.ai/events/35680-dollar-weaker-after-data-burst-euro-rises-on-ecb-comments.md) | -0.3% | -1.3% |

## Sources

- cnbc.com: https://www.cnbc.com/2022/02/03/forex-markets-central-banks-meetings-boe-ecb-tech-social-media-stocks.html

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