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The baht opened at 31.65 per US dollar on February 28, strengthening from the prior close of 31.75. The S&P 500 fell 4.4 percent the previous night on coronavirus concerns, and WTI crude dropped to $46.30 per barrel.
Broad dollar weakness and falling crude reflect risk-off sentiment tied to the virus, which weighs on energy and commodity prices. A softer dollar generally supports dollar-denominated grain and oilseed prices.
nationthailand.comFeb 28, 2020After 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 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.
