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The dollar rose from a 3-1/2-month low after US GDP grew at a 5.2% annualized pace. The strong data pushed the odds of a Fed rate cut in March to almost 50%, up from about 35% the previous day, according to CME FedWatch.
A firmer dollar makes US grain, meal and oilseed exports more expensive for overseas buyers, which can weigh on US futures. Rate-cut bets, however, limit the dollar's upside.
reuters.comGertrude Chavez-DreyfussDec 1, 2023After 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.
