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USD/JPY is biased lower after a sharp drop last Friday driven by Fed rate-cut bets and soft US core PCE inflation. Traders are looking for a decline in US unemployment to prevent further downside as the week's labour market data arrives.
Analysts expect Fed rate cut expectations to dominate the pair's direction.
Expectations of further Fed easing weaken the dollar, which tends to support dollar-priced commodities such as grains and oilseeds, though the effect on feed prices is indirect.
forex.comDavid ScuttSep 29, 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.
