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CFTC data showed a material unwinding of dollar long positions in the week ending January 18, which likely preceded a broad dollar recovery. Analysts see room for further dollar long build-up as Fed tightening approaches.
Positioning shifts in the dollar affect currency-driven pricing of dollar-denominated grains and meals, and a firmer dollar tends to weigh on commodity prices.
think.ing.comFrancesco PesoleJan 24, 2022Not enough comparable past events yet for a historical read.
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.
