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EUR/USD rose to near 1.0850 on July 26, 2024, after rebounding from a two-week low. Stronger-than-expected US Q2 GDP and PMI data reduced some September Fed cut expectations, with markets still pricing about 88.6% odds of a cut.
Firm US growth data limits dollar weakness, which keeps dollar-priced feed commodities from gaining much on currency moves alone.
octaafrica.netJul 26, 2024After 359 past neutral macro events, US Dollar (Broad) moved a median -0.0% over 5 sessions (49% higher; middle half -0.4% to +0.4%), and -0.1% over 20.
After 129 past neutral macro events, Euro (USD per EUR) moved a median -0.1% over 5 sessions (45% higher; middle half -0.5% to +0.5%), and +0.1% 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.
