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The euro fell to a five-month low around $1.0675 on Friday, losing the $1.07 level for the first time since November 2023. The ECB kept rates at record highs but hinted at a June cut.
The pair was heading for its worst weekly performance in a year.
The euro's decline reflects a growing interest rate gap with the US, which supports the dollar and pressures dollar-priced commodities. The price effect on feed markets is indirect.
economies.comRami HaddadApr 12, 2024After 533 past bearish macro events, Euro (USD per EUR) moved a median -0.3% over 5 sessions (33% higher; middle half -1.2% to +0.2%), and -0.5% over 20.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% 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.
Euro fell below 1.07 on the interest rate gap, adding to dollar gains.
