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US first-quarter GDP was revised to 1.3% growth, below the 1.6% expected, and pending home sales fell sharply in April. US Treasury yields and the dollar dropped, lifting the Australian dollar to about 0.6632.
A weaker dollar and lower US yields tend to support dollar-priced commodities, including feed grains and oilseeds, by making them cheaper for foreign buyers.
octabroker.comMay 31, 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.
Not enough comparable past events yet for a historical read.
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.
