The dollar reached a 17-month high against the euro as a global bond selloff pushed US and European government yields to new highs. US 10-year Treasury yields hit their highest level since 2002, with higher oil prices adding to inflation concerns.
Higher global yields and a stronger dollar tighten financial conditions and raise energy costs, which can weigh on commodity prices and increase input costs for feed producers.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
After 533 past bearish macro events, Euro (USD per EUR) moved a median -0.3% over 5 sessions (33% higher; middle half -1.2% to +0.2%), and -0.5% 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.