
EUR/USD edged higher near 1.1670 in Asian trade on Tuesday. Rising oil prices, elevated bond yields and Middle East tensions boosted expectations for a 25-basis-point ECB hike in September.
Strategists noted that yield spreads had narrowed, which eroded some support for the euro.
Expectations of ECB tightening and firmer energy prices support the euro, which tends to weaken the dollar. A weaker dollar can modestly support dollar-priced commodity prices.
After 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.
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.