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Preliminary third-quarter eurozone GDP grew 0.6% q/q, above expectations, while October flash inflation eased to 1.4% y/y. Canadian GDP unexpectedly contracted, sending the loonie lower, and the dollar gained on upbeat US consumer confidence.
Divergent growth and currency moves shift relative export competitiveness across major currencies, affecting dollar-denominated feed and grain prices. The effect on agricultural prices is indirect.
actionforex.comXM.comOct 31, 2017Not enough comparable past events yet for a historical read.
After 129 past neutral macro events, Euro (USD per EUR) moved a median -0.1% over 5 sessions (45% higher; middle half -0.5% to +0.5%), and +0.1% 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.
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.
