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The DXY index traded in a tight 104.1-104.6 range last week amid conflicting currency themes, according to DBS. Markets priced over a 100% chance of a September Fed cut, and the Fed was expected to keep the door open without endorsing that bet.
Yen carry-trade unwinding and tech sell-offs also influenced flows.
Expectations of Fed easing and a steady dollar shape the cost of dollar-denominated commodities and can influence export demand. Any shift in dollar direction feeds into grain and oilseed price competitiveness.
octaafrica.netJul 29, 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.
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.
