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The dollar index hovered near a three-week low of 93.56 on Wednesday as the euro strengthened after German GDP beat forecasts. The Australian dollar was the weakest major currency after Australian wage growth missed expectations.
Weak Australian wage data reinforces a softer AUD, which can make Australian feed grain exports more competitive. The broader move is driven by USD weakness, which can support dollar-priced commodities.
actionforex.comXM.comNov 15, 2017Not enough comparable past events yet for a historical read.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% 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.
