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The dollar edged lower against major currencies after stronger-than-expected ADP private payrolls and a 2.8% third-quarter GDP reading. Traders awaited the nonfarm payrolls report and clues on Fed policy.
A softer dollar modestly eases import costs for buyers of US feed commodities, though the move was small and dependent on upcoming jobs data.
brecorder.comReutersOct 31, 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.
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.
