💱Euro/US Dollar FX Spot Rate
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ECB meeting expected to keep rates on hold, but oil surge pushes bond yields higher and stokes inflation concerns, weakening EUR relative to USD.
Impact on assets 1
Others
European stock markets opened lower on 23 July 2026, pressured by a continued surge in crude oil prices driven by geopolitical risks, which pushed government bond yields higher and stoked inflation concerns. The STOXX 600 index opened at 645.79 points, down 1.14 points or 0.18 percent. France's CAC-40 opened at 8,370.33 points, down 67.56 points or 0.80 percent, while Germany's DAX opened at 24,994.05 points, down 161.36 points or 0.64 percent. Investors held back ahead of the European Central Bank meeting later the same day, with markets expecting the ECB to keep interest rates on hold. However, data from LSEG indicated a roughly 60 percent chance of at least a 0.25 percentage point rate hike by the end of this year.
ECB meeting expected to keep rates on hold, but oil surge pushes bond yields higher and stokes inflation concerns, weakening EUR relative to USD.