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The dollar fell against most major currencies on Tuesday ahead of US nonfarm payrolls, with the Bloomberg dollar index down nearly 1.5% from its recent peak. Commodity-linked currencies such as the rand and New Zealand dollar gained close to 1%.
A weaker dollar tends to support dollar-denominated grain and oilseed prices, though the effect depends on whether the payrolls data reverses the trend.
moneyweb.co.zaMasaki Kondo, Livia Yap, BloombergAug 31, 2021After 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.
