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Global markets were quiet ahead of the ECB meeting, with the dollar mostly firmer and emerging market currencies slightly lower. June WTI crude fell below $61 a barrel for a third session, while gold hovered near $1790.
Japan's economy was assessed as improving slowly and the BOJ was expected to hold policy.
Lower crude oil reduces biofuel feedstock economics and diesel and freight costs, and a firmer dollar weighs on dollar-denominated grain prices, though the moves are small.
investing.comApr 22, 2021After 565 past bearish macro events, Crude Oil (WTI) moved a median -1.4% over 5 sessions (41% higher; middle half -5.9% to +3.0%), and -0.5% over 20.
After 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.
