Loading…
Referendum result triggers a USD rally and broad risk-off move across commodities.
WikipediaAfter 4,478 past macro events, DXY moved a median +0.0% over 5 sessions (51% higher; middle half -0.4% to +0.5%), and +0.1% over 20.
After 152 past macro events, WHEAT moved a median -0.1% over 5 sessions (47% higher; middle half -2.2% to +1.1%), and -0.7% over 20.
After 1,159 past macro events, WTI moved a median -0.1% over 5 sessions (50% higher; middle half -3.7% to +3.5%), and +0.7% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
The Brexit referendum result, announced in the early hours of June 24, set off a global risk-off flight to safe havens and a collapse in sterling and the euro, driving the broad dollar's sharp 1.7% one-day gain.
The Brexit vote (results June 23-24) drove a sharp USD rally and broad risk-off liquidation that weighed on dollar-denominated wheat into the June 27 session, though harvest pressure and weather likely also contributed.
