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The won rose sharply on strong exports and foreign buying of equities, and it broke below 1,080 per dollar for the first time since May 2015. Brent and WTI crude were near two-year highs on tight North American inventories and expected OPEC output cuts.
Stronger won and higher crude have opposing effects on Korean import costs, while higher oil feeds into freight and energy costs for feed supply chains.
pulse.mk.co.krNov 24, 2017Not enough comparable past events yet for a historical read.
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.
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.
