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The dollar rose ahead of inflation data while bitcoin reached a two-year high. Expectations for the Fed's first rate cut were pushed back to June from May on strong growth, sticky inflation and hawkish Fed commentary.
A firmer dollar on delayed rate cuts makes dollar-priced grains and oilseeds more expensive for foreign buyers. Upcoming inflation data will set the next move in rate expectations.
reuters.comKaren BrettellFeb 28, 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.
