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Markets rethought rate expectations after new COVID concerns, with the yen and Swiss franc gaining over 1% against the dollar. The euro rose 0.75% in one of its biggest daily jumps of the year.
Shifts in safe-haven flows and rate expectations move currency values that affect import costs for feed buyers in Asia and Europe, with limited direct effect on grain prices.
reuters.comDhara RanasingheNov 26, 2021After 388 past bullish macro events, EURUSD moved a median +0.3% over 5 sessions (62% higher; middle half -0.4% to +1.1%), and +0.1% over 20.
Not enough comparable past events yet for a historical read.
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.
Published on 2021-11-26, it directly describes the euro's roughly 0.75% jump, one of its biggest daily gains of the year, as the new COVID variant scare prompted a rethink of rate expectations and pulled the dollar down (sentiment/currency).
