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The euro slipped back below parity with the dollar on Wednesday and was on track for a third consecutive monthly drop. Russia halted gas supplies through the Nord Stream 1 pipeline for planned maintenance, raising recession and energy rationing fears.
Europe's energy crunch raises fertiliser and feed production costs and weakens the euro, which can make EU-sourced feed less competitive and reduce US export demand for dollar-priced commodities.
globalbankingandfinance.comJessica Weisman-PittsAug 31, 2022After 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.
After 155 past bullish macro events, Natural Gas moved a median +0.1% over 5 sessions (51% higher; middle half -4.0% to +7.1%), 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.
