
Euro-dollar one-month implied volatility rose to a one-year high of about 6.6% as the coronavirus outbreak drove large moves across currency markets. Money markets fully priced a 10 basis point ECB cut by June and a 25 basis point Fed cut in March.
Heightened currency volatility and expected rate cuts point to a softer dollar over time, which can support dollar-priced commodities. The effect on feed prices is indirect and likely modest.
Setelah 129 peristiwa makro netral sebelumnya, Euro (USD per EUR) bergerak median -0,1% selama 5 sesi (45% lebih tinggi; separuh tengah -0,5% sampai +0,5%), dan +0,1% selama 20 sesi.
Pergerakan benchmark setiap komoditas dari penutupan terakhir sebelum peristiwa. Pembacaan historis menggabungkan peristiwa serupa di masa lalu; itu menggambarkan apa yang terjadi, bukan apa yang akan terjadi. Bukan nasihat investasi.