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The euro touched $1.05 and sterling $1.25 in early Asian trade on May 18, 2022, after overnight gains of 1.1% and 1.4%. The gains followed strong UK jobs data showing the jobless rate at a 48-year low, solid US retail sales, and signs of easing China lockdowns.
The dollar index fell to 103.18.
Improved risk sentiment and a softer dollar tend to support dollar-priced commodities for overseas buyers. The move reflects macro and sentiment factors rather than changes in feed supply.
cnbctv18.comReutersMay 18, 2022After 388 past bullish macro events, Euro (USD per EUR) 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.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% 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.
Improved investor sentiment on May 18 lifted the euro about 1.1% overnight and pushed the dollar index lower, adding to the weekly gain.
