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The won strengthened after the government announced an $800 cash handout per four-person household to support consumer spending. Q1 GDP contracted 1.4%, and the handouts will be funded by a second extra budget of about $5.8 billion, with bonds to cover costs.
Fiscal stimulus supports domestic demand and the currency, but it does not change feed or commodity supply or demand. The price effect on agricultural markets is negligible.
fxdailyreport.comDaffa ZakyApr 23, 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.
