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The ICE dollar index fell 0.6% to 91.32 on December 1, its lowest since April 2018, as the euro rallied about 1% to $1.2055. Analysts described the move as a decisive break that suggests a long-term dollar downtrend.
A weaker dollar tends to support dollar-priced commodities such as corn, soybeans and wheat by making them cheaper for overseas buyers.
marketwatch.comWilliam WattsDec 1, 2020After 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.
After 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.
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.
