Loading…
The euro weakened after the ECB said it was ready to recalibrate its instruments in December, while the dollar and yen rose. WTI crude fell toward the $35 area as oil sold off.
U.S. third-quarter GDP grew 33.1% annualized, beating expectations.
Lower crude prices reduce biofuel and energy-linked support for vegetable oils and corn, and a firmer dollar weighs on dollar-priced commodities. Both effects are modest for feed buyers.
actionforex.comTD Bank Financial GroupOct 29, 2020After 533 past bearish macro events, Euro (USD per EUR) moved a median -0.3% over 5 sessions (33% higher; middle half -1.2% to +0.2%), and -0.5% over 20.
After 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.
