
Most Asian currencies weakened against the US dollar on Tuesday, with the Korean won the strongest and the Philippine peso the weakest. Oil prices fell about 7% on Monday after talks between Iranian and Qatari officials raised hopes of easing Middle East tensions.
Lower oil prices reduce import costs for oil-importing Asian economies, which can support their currencies. The dollar index held near 101.8 as expectations of further US rate hikes persisted, limiting gains.
After 312 past bearish macro events, Crude Oil (Brent) moved a median -1.7% over 5 sessions (38% higher; middle half -5.4% to +2.3%), and -1.7% over 20.
After 359 past neutral macro events, US Dollar (Broad) moved a median -0.0% over 5 sessions (49% higher; middle half -0.4% to +0.4%), and -0.1% 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.