# Goldilocks back on the table | Convera

> Investors moved to price an end to Fed rate hikes after a weak US labor report and softer October inflation data. The US 10-year yield fell below 4.5% and the Dollar Index posted its worst day of the year, down 1.5%.

- Date: 2023-11-15 · published 2023-11-15T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/10105-goldilocks-back-on-the-table-convera
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

Lower yields and a weaker dollar reduce the cost of holding commodities and tend to support dollar-denominated grain and meal prices.

## Read by commodity

- DXY: bearish ▼
- EURUSD: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| EURUSD | 2023-11-14 | 1 | +1.5% | 3.5 | It describes softer US inflation and a weak labor report that led markets to price an end to Fed hikes, with the Dollar Index posting its worst day of the year (-1.5%), which explains the EUR/USD jump through lower US yields. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2025-12-05 | [Keep calm, but watch the carry \| Convera](https://feedsoft.ai/events/8060-keep-calm-but-watch-the-carry-convera.md) | -0.6% | -0.9% |
| DXY | 2024-03-06 | [Euro is back on the scene for global central banks](https://feedsoft.ai/events/31421-euro-is-back-on-the-scene-for-global-central-banks.md) | -0.6% | +0.3% |
| DXY | 2017-01-31 | [Trump Trouble: USD/JPY remains on the back foot - Forex Crunch](https://feedsoft.ai/events/73229-trump-trouble-usd-jpy-remains-on-the-back-foot-forex-crunch.md) | -0.6% | -0.6% |
| DXY | 2018-02-20 | [Why the commodity rally will get back on track \| Wood Mackenzie](https://feedsoft.ai/events/66407-why-the-commodity-rally-will-get-back-on-track-wood-mackenzie.md) | +0.7% | +1.4% |
| DXY | 2021-04-19 | [Goldman Sachs backs the euro as the dollar hits two-month lows](https://feedsoft.ai/events/47789-goldman-sachs-backs-the-euro-as-the-dollar-hits-two-month-lows.md) | -0.3% | -1.2% |
| EURUSD | 2024-03-06 | [Euro is back on the scene for global central banks](https://feedsoft.ai/events/31421-euro-is-back-on-the-scene-for-global-central-banks.md) | +0.5% | -0.8% |
| EURUSD | 2021-04-19 | [Goldman Sachs backs the euro as the dollar hits two-month lows](https://feedsoft.ai/events/47789-goldman-sachs-backs-the-euro-as-the-dollar-hits-two-month-lows.md) | +0.7% | +1.3% |
| EURUSD | 2017-06-30 | [Is The Pound / Dollar Conversion Rate Tipped To Go Higher?](https://feedsoft.ai/events/70752-is-the-pound-dollar-conversion-rate-tipped-to-go-higher.md) | -0.2% | +2.9% |

## Sources

- convera.com: https://convera.com/blog/market-insights/fx-research/daily-market-updates/goldilocks-back-on-the-table/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.