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The dollar held near seven-week highs as investors weighed the outlook for further US rate cuts, along with Middle East tensions and China's economy. Markets priced about a 90% chance of a 25-basis-point Fed cut in November, and the euro and pound were little changed.
Expectations for Fed easing shape the dollar's direction, which in turn affects dollar-priced grain and oilseed prices. Middle East tensions could also lift energy prices and feed costs.
cnbc.comReutersOct 8, 2024After 359 past neutral macro events, US Dollar (Broad) moved a median -0.0% over 5 sessions (49% higher; middle half -0.4% to +0.4%), and -0.1% 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.
