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The euro fell on August 31 after reports that unnamed ECB officials were concerned about its strength and that the ECB might hold off on a firm tapering plan at its September meeting. The dollar regained ground on solid US data, and the Canadian dollar was the strongest G10 currency after stronger Canadian GDP.
Eurozone CPI was stronger than expected.
Expectations of ECB restraint and a firmer dollar weigh on the euro and can pressure dollar-priced commodities. Canadian dollar strength raises the cost of Canadian canola and feed exports.
actionforex.comTD Bank Financial GroupAug 31, 2017After 533 past bearish macro events, Euro (USD per EUR) moved a median -0.3% over 5 sessions (33% higher; middle half -1.2% to +0.2%), and -0.5% over 20.
Not enough comparable past events yet for a historical read.
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.
