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Reuters columnist John Kemp argues the dollar's rise may be ending as US-China trade tensions weigh and pressure to raise rates fades. He suggests this could lift oil prices.
A turning dollar would support dollar-priced commodities, including crude oil, which feeds into biofuel and input costs for feed.
reuters.comJohn KempJan 4, 2019After 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 487 past bullish macro events, Crude Oil (WTI) moved a median +1.0% over 5 sessions (60% higher; middle half -2.0% to +4.0%), and +1.5% over 20.
After 323 past bullish macro events, Crude Oil (Brent) moved a median +0.7% over 5 sessions (58% higher; middle half -2.9% to +3.7%), and +1.3% 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.
