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The euro rose against the dollar on 2 March 2020 despite accelerating coronavirus spread in Europe, marking a seventh consecutive weekly-type rally in EUR/USD. The move was attributed to the unwinding of carry trades, as investors sold lower-yielding euro positions.
A stronger euro and carry unwind reflect risk-off flows that weaken emerging-market currencies, which can raise the cost of imported feed ingredients for buyers in those markets.
forex.comMatt Weller CFA, CMT2 mar 2020Tras 388 eventos alcista de macro pasados, Euro (USD por EUR) se movió una mediana de +0,3 % en 5 sesiones (62% al alza; mitad central entre -0,4 % y +1,1 %), y +0,1 % en 20.
Tras 1637 eventos bajista de macro pasados, Dólar estadounidense (amplio) se movió una mediana de -0,2 % en 5 sesiones (39% al alza; mitad central entre -0,6 % y +0,3 %), y -0,2 % en 20.
Variaciones de la referencia de cada materia prima desde el último cierre antes del evento. Las lecturas históricas agrupan eventos pasados del mismo tipo; describen lo ocurrido, no lo que ocurrirá. No es asesoramiento de inversión.
Attributes the 2 March euro rally to carry-trade unwinding, in which euro funding positions are bought back, a flow-driven currency mechanism for the jump.
Unwinding of euro-funded carry trades led to euro buying and a continued EUR/USD rally on 2 March despite virus spread in Europe.
Euro rally on 2 March driven by carry trade unwinding contributed to the dollar's decline.
