◂ Event Timeline

Mar 25, 2022MACROAsia

Thai baht, Asian FX gain as oil prices come off the boil

The Thai baht led Asian currency gains on Friday, rising 0.5% as crude prices eased on talk of US and allied oil reserve releases. The baht was still on track for a weekly loss, its fifth straight weekly decline this year.

WHY IT MATTERS

Lower crude prices reduce energy and freight costs for feed importers, while weaker regional currencies raise the local price of imported feed ingredients.

AFFECTSThai Baht (THB per USD)▼Crude Oil (WTI)▼

SOURCE
financialpost.comReutersMar 25, 2022

Price reaction & history

Thai Baht (THB per USD)▼bearish

Not enough comparable past events yet for a historical read.

Crude Oil (WTI)▼bearishSO FAR1d +1.6%5d -11.6%20d -9.7%

After 565 past bearish macro events, Crude Oil (WTI) moved a median -1.4% over 5 sessions (41% higher; middle half -5.9% to +3.0%), and -0.5% over 20.

Nov 18, 2022Canadian dollar extends weekly decline as oil prices slide | Financial Post-6.5%
Mar 15, 2022Posthaste: Why the loonie has taken its foot off the gas during this oil boom - Financial Post+8.7%
Jul 28, 2020Colombian peso hits lowest in a month on weak oil price | Financial Post-1.5%
Oct 21, 2021Canadian dollar falls by most in three weeks as oil stumbles | Financial Post-1.9%
Jul 23, 2020Latam FX weakens, Brazil's real comes off one-month high | Financial Post-1.7%

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.

Thai Baht (THB per USD) USDTHB · GP ▸

——— · ·

Crude Oil (WTI) WTI · GP ▸

——— · ·

Loading…