Loading…
The dollar eased for a third straight day on May 17, 2022 after a jump in global risk sentiment, having hit a two-decade high the prior week. Dutch central bank chief Klaas Knot said the ECB was set to hike 25 basis points in July and could go bigger if inflation proved higher.
The euro rose 0.8% to $1.0527 and the Australian dollar gained 0.87%.
A hawkish ECB and a softer dollar shift currency flows that can support dollar-priced commodity demand from non-US buyers. The effect on feed prices is indirect and currency-driven.
financialpost.comReutersMay 17, 2022After 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.
After 1,637 past bearish macro events, DXY 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.
The dollar rally stalled on May 17 and the euro rose 0.8%, helped by Knot's comments on a July ECB hike, which began the rebound at the start of the 5-day window.
