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The dollar held near multi-week lows on August 30 after Powell described a slower path to rate hikes and said asset-purchase reductions could begin this year. Oil-exposed currencies gained as a storm disrupted Gulf of Mexico oilfields.
A weaker dollar on looser Fed expectations supports commodity prices broadly, while Gulf oil disruption supports energy costs that feed into biofuel and freight economics.
brecorder.comReutersAug 30, 2021After 1,637 past bearish macro events, DXY moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
After 487 past bullish macro events, WTI moved a median +1.0% over 5 sessions (60% higher; middle half -2.0% to +4.0%), and +1.5% 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.
