
The euro has fallen about 2% in September to just below $1.14, its weakest stretch in over a year. Gas prices have topped €80 per megawatt hour this month, and the French 10-year bond premium over Germany has risen above 110 basis points.
An energy-driven euro slide and rising French bond spreads strengthen the dollar, which can lift the cost of dollar-priced feed imports for Europe and push some commodity prices lower in dollar terms.
After 533 past bearish macro events, Euro (USD per EUR) moved a median -0.3% over 5 sessions (33% higher; middle half -1.2% to +0.2%), and -0.5% over 20.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% 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.