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The Fed kept rates unchanged at 5.25%-5.50% and Chair Powell said the committee is moving closer to the point where cutting would be appropriate, with September a possibility. Powell said officials need greater confidence that inflation is moving sustainably toward 2%.
A possible September cut would weaken the dollar and lower borrowing costs, which tends to support dollar-priced grain and oilseed prices and export competitiveness.
goodreturns.inPooja JaiswarJul 31, 2024After 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.
After 151 past bullish macro events, Corn moved a median +0.2% over 5 sessions (57% higher; middle half -0.9% to +1.4%), and -0.3% over 20.
After 123 past bullish macro events, Soybeans moved a median +0.3% over 5 sessions (60% higher; middle half -1.0% to +1.8%), 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.
