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A Bloomberg currency column notes the euro has held up against the dollar despite weaker euro zone rates and growth. It argues the pair is more likely than not to drift back toward parity over 2024.
A forecast of a stronger dollar would make US-priced feed ingredients cheaper for non-dollar buyers only in reverse, so importers in euro-linked markets should watch for higher dollar costs.
bloomberg.comMarcus AshworthMar 28, 2024After 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.
