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The dollar rose against the euro on October 3 as quarter-end trading and record euro zone inflation supported it. Commodity-linked currencies fell sharply, and sterling rallied after Bank of England gilt purchases.
A firmer dollar and weaker commodity currencies such as the Australian dollar can lower export prices for grains and oilseeds in dollar terms. The effect here is currency-driven rather than supply-driven.
brecorder.comReutersOct 3, 2022After 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 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.
