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The dollar was supported on Thursday as doubts about global growth subdued risk appetite, while the euro steadied near $1.18. Traders were positioning ahead of an expected European Central Bank step to reduce bond purchases under its pandemic programme.
A dollar supported by risk aversion can pressure dollar-denominated commodity prices, while the ECB tapering decision could move the euro and, by extension, the dollar index. Impact on feed prices is limited.
reuters.comHideyuki SanoSep 9, 2021After 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 621 past macro events, Brazilian Real (BRL per USD) moved a median +0.2% over 5 sessions (53% higher; middle half -1.3% to +1.4%), and +0.6% over 20.
After 129 past neutral macro events, Euro (USD per EUR) moved a median -0.1% over 5 sessions (45% higher; middle half -0.5% to +0.5%), 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.
