The euro and sterling weakened against the dollar as continued losses in technology shares encouraged demand for the greenback. Sterling fell despite the Bank of England’s 25-basis-point rate increase, while better-than-expected German industrial production offered some support to the euro ahead of the US employment report.
Stronger demand for the dollar weighs on the euro and sterling when priced in dollars. The rate outlook and German data provide some offset, but the reported currency moves were modest.
After 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.
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.