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The euro fell broadly after ECB President Christine Lagarde on Monday effectively ruled out the rate hike in 2022 that money markets had priced in. She said tightening policy now would choke off the economic recovery.
The euro was already down over 7% against the dollar that year.
Expectations of a later ECB hike than the Fed widen the rate gap in favour of the dollar, which pressures dollar-priced commodities and feed import costs in euro-linked markets.
reuters.comSaikat Chatterjee, Joice Alves16 Nov 2021Setelah 533 peristiwa makro bearish sebelumnya, Euro (USD per EUR) bergerak median -0,3% selama 5 sesi (33% lebih tinggi; separuh tengah -1,2% sampai +0,2%), dan -0,5% selama 20 sesi.
Setelah 2.356 peristiwa makro bullish sebelumnya, Dolar AS (Luas) bergerak median +0,2% selama 5 sesi (60% lebih tinggi; separuh tengah -0,3% sampai +0,7%), dan +0,4% selama 20 sesi.
Pergerakan benchmark setiap komoditas dari penutupan terakhir sebelum peristiwa. Pembacaan historis menggabungkan peristiwa serupa di masa lalu; itu menggambarkan apa yang terjadi, bukan apa yang akan terjadi. Bukan nasihat investasi.
Lagarde's rejection of a 2022 rate hike on Nov 15-16 removed priced-in ECB tightening, sparking broad euro selling within the window.
