Loading…
Analyst commentary says the USD decline looks broad-based, with the two largest non-dollar majors and emerging market currencies rising against the dollar. A weaker USD is also contributing to higher commodity prices.
A broad dollar decline supports commodity prices and commodity-driven currencies, which lifts the cost-competitiveness of US feed exports.
octaafrica.netJan 24, 2018After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
After 151 past bullish macro events, Corn moved a median +0.2% over 5 sessions (57% higher; middle half -0.9% to +1.4%), and -0.3% over 20.
After 123 past bullish macro events, Soybeans moved a median +0.3% over 5 sessions (60% higher; middle half -1.0% to +1.8%), 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.
Same-day analyst commentary confirms the decline was broad-based across majors and EM currencies, which supports the cause but adds little as an independent driver.
