
Lagarde said the ECB is closely watching the euro, which rose 9% in 2020 to above $1.23, its biggest annual gain in four years. Currency strategists argue that several factors still point to further euro gains despite ECB concern.
The strength is also a headwind for German exporters, whose DAX companies earn 70% of sales outside Europe.
Currency strategists expecting further euro gains imply continued dollar weakness, which tends to support dollar-denominated commodity prices. A firmer euro also raises the cost of EU imports priced in dollars.
Setelah 388 peristiwa makro bullish sebelumnya, Euro (USD per EUR) bergerak median +0,3% selama 5 sesi (62% lebih tinggi; separuh tengah -0,4% sampai +1,1%), dan +0,1% selama 20 sesi.
Setelah 1.637 peristiwa makro bearish sebelumnya, Dolar AS (Luas) bergerak median -0,2% selama 5 sesi (39% lebih tinggi; separuh tengah -0,6% sampai +0,3%), dan -0,2% 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.