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The dollar rose on Monday after Federal Reserve Chair Jerome Powell took a more hawkish tone on the economy. The move led traders to pare bets on another 50 basis point rate cut at the Fed's next meeting.
A firmer dollar makes US-priced grains and feed ingredients more expensive for foreign buyers, which weighs on export demand and prices.
reuters.comKaren BrettellSep 30, 2024After 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.
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.
