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Currency speculators have largely unwound their 16-month bet against the US dollar, with net short positions disappearing from CFTC data. The dollar is up about 3% against the euro and the DXY since January.
A reversal of speculative dollar shorts can support further dollar strength if Fed and ECB policy keep diverging. A stronger dollar generally pressures US commodity export prices.
theglobeandmail.comMike DolanJul 28, 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.
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.
