
The dollar hit its highest level since early August as Fed Governor Christopher Waller called for more caution on rate cuts. The euro fell to its lowest since August ahead of an expected ECB cut, and sterling was steady after weaker UK wage data.
A firmer dollar on delayed Fed easing raises the cost of US feed exports for foreign buyers, a mild bearish factor for US commodity prices.
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.