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Goldman Sachs removed the euro from its basket of G-10 currencies expected to outperform the dollar, keeping long positions in the Canadian and Australian dollars. The change followed new lockdown measures in France and Germany and signals from the ECB that it may ease policy in December.
A bank dropping the euro from its bullish list signals weaker near-term euro demand against the dollar, which slightly raises dollar-priced commodity costs for euro buyers.
cnbc.comElliot SmithNov 3, 2020Not enough comparable past events yet for a historical read.
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.
