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ING's FX note previews US July core PCE, expected at 0.2% month on month, and eurozone inflation data. It says the dollar is unlikely to fall much further near term and that Japanese inflation raises the chance of a BoJ hike.
The note is a currency outlook that signals limited near-term dollar weakness, so it has little direct bearing on grain or meal prices.
think.ing.comFrancesco Pesole, Chris TurnerAug 30, 2024After 359 past neutral macro events, US Dollar (Broad) moved a median -0.0% over 5 sessions (49% higher; middle half -0.4% to +0.4%), and -0.1% over 20.
After 129 past neutral macro events, Euro (USD per EUR) moved a median -0.1% over 5 sessions (45% higher; middle half -0.5% to +0.5%), and +0.1% 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.
