# PRESS CONFERENCE

> ECB President Lagarde said euro area inflation rose sharply and surprised higher in January, driven mainly by energy and food prices. The Governing Council confirmed it would end PEPP net asset purchases at the end of March and kept policy flexible.

- Date: 2022-02-03 · published 2022-02-03T12:00:00.000Z
- Category: macro · region Euro Zone · magnitude medium
- Page: https://feedsoft.ai/events/9871-press-conference
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Higher food and energy inflation in the euro area signals rising input costs and a more restrictive monetary backdrop, which can lift feed and energy costs for European buyers.

## Read by commodity

- WTI: neutral
- EURUSD: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| EURUSD | 2022-02-04 | 5 | +2.6% | 3.5 | The press conference stressed upside inflation surprises and the end of PEPP purchases in March, supporting the hawkish repricing. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2017-08-25 | [Yellens policy silence pressures dollar and supports gold](https://feedsoft.ai/events/69366-yellens-policy-silence-pressures-dollar-and-supports-gold.md) | +0.8% | +1.4% |
| EURUSD | 2026-01-30 | [Our currency, your problem \| Reuters](https://feedsoft.ai/events/21239-our-currency-your-problem-reuters.md) | -1.2% | -1.0% |
| EURUSD | 2018-01-24 | [Draghi concerned at euro's rise against dollar \| AGENCE EUROPE](https://feedsoft.ai/events/67188-draghi-concerned-at-euro-s-rise-against-dollar-agence-europe.md) | +0.9% | +0.3% |
| EURUSD | 2025-11-19 | [Currencies: Yield Differentials Strengthen the Euro](https://feedsoft.ai/events/22161-currencies-yield-differentials-strengthen-the-euro.md) | -0.2% | +1.5% |
| EURUSD | 2026-01-28 | [Dollar plunges against dong - VnExpress International](https://feedsoft.ai/events/21350-dollar-plunges-against-dong-vnexpress-international.md) | -1.3% | -1.5% |
| WTI | 2017-12-01 | [Crude oil prices to be under pressure in first half of 2018: S&P](https://feedsoft.ai/events/67647-crude-oil-prices-to-be-under-pressure-in-first-half-of-2018-s-and-p.md) | -1.5% | +5.3% |
| WTI | 2022-02-02 | [Record euro zone inflation piles pressure on ECB \| Reuters](https://feedsoft.ai/events/9873-record-euro-zone-inflation-piles-pressure-on-ecb-reuters.md) | +1.3% | +25.5% |
| WTI | 2020-07-27 | [Dollar’s weakness boosts rally in commodities and currencies - Gulf Times](https://feedsoft.ai/events/5318-dollar-s-weakness-boosts-rally-in-commodities-and-currencies-gulf-times.md) | -2.7% | +2.6% |

## Sources

- ecb.europa.eu: https://www.ecb.europa.eu/press/press_conference/monetary-policy-statement/2022/html/ecb.is220203~ca7001dec0.en.html

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