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The dollar rose on May 16 after US import prices increased 0.9% in April, a larger-than-expected jump. The data raised concerns that the Federal Reserve's fight against inflation is not finished and could delay rate cuts.
A firmer dollar makes US commodities more expensive for foreign buyers and typically pressures grain and meal export prices slightly lower.
reuters.comHerbert Lash, Harry RobertsonMay 16, 2024After 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.
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.
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.
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.
