Loading…
The US Dollar Index fell to near 98.40, a three-week low, on Friday after its worst day since August 2019. Markets priced a more than 97% chance of a Fed rate cut in March.
New coronavirus cases outside China were rising.
A weaker dollar on expected Fed easing tends to support dollar-priced commodities and US export competitiveness. Growth fears from the virus add downside pressure on energy and industrial demand.
octaafrica.netFeb 28, 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.
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.
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.
