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The dollar eased after Treasuries rallied on Trump's announcement of Scott Bessent as Treasury nominee. Ten-year Treasury yields fell about 14 basis points, the most since early August, and two-year yields also dropped, narrowing the dollar's rate advantage.
Lower US yields weaken the dollar's appeal and can support commodity prices priced in dollars. The effect on feed markets is indirect and modest.
reuters.comAlden Bentley, Medha Singh, Wayne ColeNov 25, 2024After 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 1,108 past macro events, Euro (USD per EUR) moved a median -0.1% over 5 sessions (46% higher; middle half -0.7% to +0.6%), and -0.3% 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.
