# FX Monthly | A tale of two dollars | Lombard Odier

> Lombard Odier expects global growth to take a substantial hit in H1 2020 with a rebound in H2. It sees lower and converging US rates putting the dollar under pressure against major currencies. It also expects the dollar to be supported against emerging market currencies given low energy prices.

- Date: 2020-03-25 · published 2020-03-25T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/6588-fx-monthly-a-tale-of-two-dollars-lombard-odier
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Dollar weakness against major currencies supports dollar-priced commodities, while strength against emerging currencies raises costs for importers in those markets. Low energy prices limit the upside for energy-linked demand.

## Read by commodity

- DXY: bearish ▼
- WTI: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2019-02-01 | [Fed over-delivers… and the dollar bows \| Lombard Odier](https://feedsoft.ai/events/60508-fed-over-delivers-and-the-dollar-bows-lombard-odier.md) | +0.8% | +1.0% |
| DXY | 2020-09-22 | [FX Monthly September 2020: Dollar correction has not yet run its course \| Lombard Odier](https://feedsoft.ai/events/7699-fx-monthly-september-2020-dollar-correction-has-not-yet-run-its-course-lombard.md) | +1.1% | -1.0% |
| DXY | 2018-11-13 | [Explaining our bearish outlook for the dollar \| Lombard Odier](https://feedsoft.ai/events/62250-explaining-our-bearish-outlook-for-the-dollar-lombard-odier.md) | -0.4% | -0.2% |
| DXY | 2019-01-04 | [Dollar drops to two-month low - ANBA News Agency](https://feedsoft.ai/events/61299-dollar-drops-to-two-month-low-anba-news-agency.md) | -1.2% | -1.4% |
| DXY | 2023-11-20 | [Dollar stumbles to over two-month low as markets eye Fed cuts](https://feedsoft.ai/events/12032-dollar-stumbles-to-over-two-month-low-as-markets-eye-fed-cuts.md) | -0.6% | -0.8% |
| WTI | 2021-12-15 | [Canadian dollar at nearly 3-month low as oil prices fall \| Reuters](https://feedsoft.ai/events/43853-canadian-dollar-at-nearly-3-month-low-as-oil-prices-fall-reuters.md) | +0.7% | +16.9% |
| WTI | 2026-07-28 | [Canadian dollar rebounds from two-week low ahead of Fed decision \| Reuters](https://feedsoft.ai/events/18590-canadian-dollar-rebounds-from-two-week-low-ahead-of-fed-decision-reuters.md) | +2.0% | +5.9% |
| WTI | 2020-02-03 | [Canadian dollar slides to two-month low as China virus hits oil demand - The Globe and Mail](https://feedsoft.ai/events/54810-canadian-dollar-slides-to-two-month-low-as-china-virus-hits-oil-demand-the.md) | -2.4% | -9.3% |

## Sources

- lombardodier.com: https://www.lombardodier.com/contents/corporate-news/investment-insights/2020/march/a-tale-of-two-dollars.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.