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The euro has recovered to about $1.07, up roughly 13% from a September low near $0.95. The rebound reflects falling energy prices, eased recession fears, continued ECB hikes and a weaker dollar as the Fed slows tightening.
A firmer euro and softer dollar tend to support dollar-priced grains and oilseeds, while lower energy costs ease input and freight pressures for feed producers.
dw.comAshutosh PandeyFeb 9, 2023After 388 past bullish macro events, Euro (USD per EUR) 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, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
After 59 past bearish macro events, Natural Gas moved a median +1.3% over 5 sessions (58% higher; middle half -5.0% to +5.2%), and -2.0% 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.
