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The euro held near a one-month high against the dollar and a six-week high against the pound. Support came from hawkish ECB comments after euro zone inflation hit a decade high, and from signs the Fed was not rushing to tighten.
Currency moves shift the relative cost of US commodity exports for euro-based buyers and affect dollar-denominated grain and oilseed prices. A firmer euro typically weighs on dollar-priced commodities at the margin.
reuters.comSujata RaoSep 2, 2021After 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.
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.
