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ECB Executive Board member Benoît Cœuré's speech examines how ECB asset purchases have driven capital outflows from the euro area into the United States. He notes that divergent monetary policy cycles have historically preceded abrupt reversals in cross-border capital flows.
Capital flows that support the dollar can strengthen the U.S. currency and tighten conditions for dollar-priced commodities, though the link to near-term feed prices is indirect.
bis.orgOct 30, 2018After 1,108 past macro events, Euro (USD per EUR) moved a median -0.1% over 5 sessions (46% higher; middle half -0.7% to +0.6%), and -0.3% 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.
