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The South Korean won slipped to a one-week low against the dollar after OPEC agreed its first output cut since 2008, aiming to reduce production by 1.2 million bpd from January. Regional stocks edged up, while the won was quoted at 1,175.2 per dollar.
Political turmoil over an influence-peddling scandal continued to weigh on domestic markets.
A stronger dollar lifts the cost of dollar-denominated feed and commodity imports for Korea, while the OPEC cut supports crude and energy-linked prices.
businesstimes.com.sgNov 30, 2016Not enough comparable past events yet for a historical read.
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.
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.
After 323 past bullish macro events, Crude Oil (Brent) moved a median +0.7% over 5 sessions (58% higher; middle half -2.9% to +3.7%), and +1.3% 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.
