Loading…
The dollar slipped against the euro on Monday, hitting a fresh nine-month low, as the euro gained on ECB officials' comments backing two more 50 basis point hikes in February and March. Reuters analysts' survey also favoured those hikes and an eventual ECB peak rate of 3.25%.
Wider expected rate differentials favouring the euro weaken the dollar, which tends to support dollar-priced commodities and lift the cost of US export grain and oilseed sales for importers.
reuters.comSaqib Iqbal AhmedJan 23, 2023After 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 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.
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.
