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The USD/JPY pair stalled near 109 on January 31 as investors kept favoring the yen amid coronavirus concerns. The US Dollar Index traded below 98 ahead of US PCE inflation and personal income data.
Treasury yields were falling in risk-averse trade.
Safe-haven flows and falling Treasury yields signal softer global growth expectations, a mild headwind for energy and commodity demand. The move is a routine currency wrap with limited direct effect on feed prices.
octaafrica.netJan 31, 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.
