Analysts at TreasuryONE say Italy's political impasse, after the president blocked a coalition government, drove investors into US Treasuries and out of the euro and emerging markets. The rand was pushed toward R12.70 per dollar on the risk-off trading.
A stronger dollar and risk-off flows weaken emerging-market currencies and can dampen import demand for feed ingredients priced in dollars.
After 533 past bearish macro events, Euro (USD per EUR) moved a median -0.3% over 5 sessions (33% higher; middle half -1.2% to +0.2%), and -0.5% over 20.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
Not 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.