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Sterling rebounded after the UK Autumn Budget, which included a 40 billion pound tax rise and a higher employer National Insurance rate. The US dollar eased despite upbeat US ADP employment data for October.
A firmer pound after the budget lowers the sterling cost of dollar-priced feed ingredients, though the link to grain prices is indirect. Inflation expectations also shape BoE policy.
cnbc.comJenni ReidOct 3, 2024Not enough comparable past events yet for a historical read.
After 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.
