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The euro rose to a two-week high near $1.1875 after US second-quarter GDP grew 6.5%, below the expected 8.5%. Analysts cited concern over the Delta-driven resurgence in coronavirus cases and a possible economic slowdown.
A soft US growth reading weakens the dollar and supports dollar-priced commodities, while raising doubts about US demand. The effect on feed prices is modest and mostly currency-driven.
exchangerates.org.ukAdam SolomonJul 30, 2021After 388 past bullish macro events, Euro (USD per EUR) moved a median +0.3% over 5 sessions (62% higher; middle half -0.4% to +1.1%), and +0.1% 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.
