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The dollar rose from a two-week low after a strong US jobs report, while the euro still gained 0.1% to $1.1455 and was up 1.7% on the week. The euro's gains followed the ECB's hawkish turn.
A stronger dollar on firm US employment data pressures dollar-priced commodities, while the euro's weekly gain reflects ECB rate expectations that shape currency-driven import costs for feed buyers.
reuters.comGertrude Chavez-DreyfussFeb 4, 2022After 53 past bullish report events, US Dollar (Broad) moved a median +0.1% over 5 sessions (51% higher; middle half -0.4% to +0.5%), and +0.5% over 20.
After 20 past bullish report events, Euro (USD per EUR) moved a median +0.7% over 5 sessions (70% higher; middle half -0.0% to +1.6%), and +1.1% 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.
Confirms the euro was up 1.7% on the week at $1.1455 on the ECB's hawkish turn, despite a small dollar bounce after US jobs data.
