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The US dollar strengthened against most major currencies after better-than-expected retail sales data. The data reduced expectations of an aggressive Fed rate cut ahead of its first cut in more than four years.
A firmer dollar on reduced easing expectations makes dollar-priced US grains and feed ingredients more costly for overseas buyers.
reuters.comChibuike OguhSep 16, 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.
