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The dollar slipped on June 16 after the Federal Reserve announced it would begin broad purchases of investment-grade US corporate bonds to secure company access to credit and market liquidity during the COVID-19 pandemic. The announcement eased second-wave virus fears, lifting risk-sensitive currencies such as the Australian and New Zealand dollars and pushing stocks higher.
A weaker dollar and firmer risk appetite tend to support dollar-denominated commodity prices and can make US exports more competitive, while easier financial conditions support energy and feed demand expectations.
whbl.comSyndicated ContentJun 16, 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.
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.
