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The dollar weakened after softer-than-expected US jobs data and comments from Fed Chair Powell. The euro was poised for its best week in 16 years, gaining 4.5% against the dollar on German fiscal reforms.
A weaker dollar on softer US labor data and expected Fed easing supports dollar-priced commodities such as corn and soybeans, while the euro's rally reflects German spending plans.
reuters.comGertrude Chavez-DreyfussMar 7, 2025After 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 388 past bullish macro events, Euro (USD per EUR) moved a median +0.3% over 5 sessions (62% higher; middle half -0.4% to +1.1%), and +0.1% 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.
Weak US jobs data and Powell comments weakened the dollar on March 7, and the euro was set for its best week in 16 years (+4.5%), closely matching the 5-day move.
Weaker US jobs data and Powell comments cut dollar support on the final day, while the euro posted its best week in 16 years.
