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EUR/USD climbed to a high of 1.1165 on 2 March 2020 as the carry trade continued to unwind and emerging markets sold off. US Treasury yields hit record lows and net euro short positioning was at a nine-month low before the squeeze.
Record-low US yields and dollar weakness reduce the dollar's yield advantage, which can support commodity prices and weigh on emerging-market currencies that affect feed import costs.
forexcrunch.comFX Street2 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.
Describes the 2 March EUR/USD jump to 1.1165 as carry trades unwound, Treasury yields hit record lows and a short squeeze hit euro shorts that were at a nine-month low, which directly explains the one-day move.
Carry trade unwind and a short squeeze from a nine-month-low net euro short position pushed EUR/USD to 1.1165 on 2 March, a key leg of the 5-day move.
Carry trade unwinding and record-low Treasury yields pushed EUR/USD higher on 2 March, weighing on the broad dollar.
