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A cascade of short-covering stop-loss orders drove a sharp fall in US Treasury yields, as investors sought havens amid growing worries about economic growth. The move caught broader markets by surprise and the high-flying Australian dollar weakened sharply.
The article text is fragmentary.
A flight to Treasuries and a weaker Aussie reflect risk-off sentiment that can pressure industrial and energy demand expectations, but the direct impact on feed commodity prices is small.
reuters.comSaikat ChatterjeeJul 7, 2021Not enough comparable past events yet for a historical read.
After 359 past neutral macro events, US Dollar (Broad) moved a median -0.0% over 5 sessions (49% higher; middle half -0.4% to +0.4%), and -0.1% 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.
