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The U.S. dollar slipped on June 28 after data showed inflation in the world's largest economy eased in May. The reading reinforced expectations that the Federal Reserve will start cutting interest rates this year.
A weaker dollar makes dollar-priced commodities cheaper for foreign buyers, which supports export demand and can lift grain and oilseed prices. Earlier Fed cuts would also tend to weaken the dollar further.
reuters.comGertrude Chavez-DreyfussJun 28, 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.
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.
