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The U.S. dollar index was set for its first monthly decline of 2024 as markets scaled back Fed rate-cut bets. The dollar had appreciated against only 14% of its global peers in May.
U.S. inflation remained elevated, and Fed officials said cuts would wait for clear evidence of sustained disinflation.
A firmer dollar raises the local-currency cost of imported feed ingredients and makes U.S. exports less competitive abroad, which weighs on commodity prices quoted in dollars.
convera.comIngmar ApinisMay 29, 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.
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.
