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The euro pulled back from a two-year high on July 28 as dollar selling eased ahead of a two-day Federal Reserve meeting. Republicans proposed a $1 trillion coronavirus relief plan that cut unemployment benefits to $200 a week, which drew opposition from Democrats and raised concerns about the US recovery.
Uncertainty over US fiscal support and the Fed's outlook shapes dollar direction, which feeds into dollar-priced commodity prices.
financialpost.comReutersJul 28, 2020After 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.
After 129 past neutral macro events, Euro (USD per EUR) moved a median -0.1% over 5 sessions (45% higher; middle half -0.5% to +0.5%), 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.
