Dollar Soars to Fresh 2024 High as Fed Diverges From Major Peers

After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.

• Sep 21, 2022U.S. dollar soars to two-decade high as Fed flags more large hikes | Reuters+2.6%
• Dec 16, 2024Dollar edges higher against major peers as investors eye Fed rate cut | Reuters+0.5%
• Nov 14, 2016Dollar surges to 11-month high as bond rout persists+1.4%
• Sep 29, 2021Dollar at 2021 highs as traders brace for Fed taper+0.1%
• Sep 26, 2022Fed’s Trade-Weighted Dollar Gauge Eclipses High From March 2020 - Bloomberg+0.2%

After 301 past bearish macro events, Corn moved a median -0.1% over 5 sessions (47% higher; middle half -2.2% to +1.3%), and +0.2% over 20.

• Sep 26, 2022Fed’s Trade-Weighted Dollar Gauge Eclipses High From March 2020 - Bloomberg-1.4%
• Mar 8, 2023The U.S. dollar bounces to 2023 high as Fed’s Powell signals higher rates - MarketWatch-1.6%
• Jun 17, 2021Dollar surges to two-month high on Fed rate-hike projection-2.4%
• Oct 14, 2026Dollar hits fresh 18-month high as hot inflation boosts Fed hike expectation-1.8%
• May 5, 2022Dollar surges to 2-decade high as investors seek refuge | AP News+6.2%

After 273 past bearish macro events, Soybeans moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.4%), and -0.5% over 20.

• Sep 26, 2022Fed’s Trade-Weighted Dollar Gauge Eclipses High From March 2020 - Bloomberg-4.3%
• Mar 8, 2023The U.S. dollar bounces to 2023 high as Fed’s Powell signals higher rates - MarketWatch-1.7%
• Jun 17, 2021Dollar surges to two-month high on Fed rate-hike projection-4.4%
• Oct 14, 2026Dollar hits fresh 18-month high as hot inflation boosts Fed hike expectation-2.3%
• May 5, 2022Dollar surges to 2-decade high as investors seek refuge | AP News-1.2%