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A Bloomberg analysis says the dollar has become more closely correlated with oil than some oil-exporter currencies such as Russia's and Canada's. The link between oil and those petrocurrencies is weakening.
Shifts in how the dollar tracks oil change how energy price moves pass through to currency-sensitive commodities. The effect on feed prices is limited.
bloomberg.comNatasha DoffNov 7, 2017After 4,478 past macro events, US Dollar (Broad) moved a median +0.0% over 5 sessions (51% higher; middle half -0.4% to +0.5%), 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.
