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The euro fell as much as half a cent to below $1.17 on August 16 after sources said ECB President Draghi would not use his Jackson Hole appearance to signal a policy change. The euro had gained about 11.5% against the dollar that year, mainly on bets that the ECB would unwind stimulus.
Expectations of no near-term ECB policy shift reduce support for the euro and can strengthen the dollar. This is a minor factor for dollar-priced feed commodity values.
reuters.comAug 16, 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.
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.
