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Asian shares rose after dovish comments from Fed Chair Powell, while oil climbed as a hurricane battered Louisiana. Ten-year Treasury yields and the dollar index were both slightly lower, with the dollar near a two-week low.
The hurricane threatens Gulf production and export infrastructure, which supports energy prices and adds to logistics risk for grain shipments. A softer dollar also provides some support to commodity prices.
reuters.comAlun JohnAug 30, 2021After 487 past bullish macro events, Crude Oil (WTI) moved a median +1.0% over 5 sessions (60% higher; middle half -2.0% to +4.0%), and +1.5% 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.
