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Eurozone headline inflation fell to 2.9% in October, below the 3% level and below expectations. US employment cost index rose 1.1% in Q3, slightly above forecasts, which pushed the euro lower against the dollar.
Softer euro inflation raises expectations of earlier ECB easing, while a firmer US labour-cost reading supports Fed-hold expectations. Together these keep the dollar firm, which tends to pressure dollar-priced grain and meal export values.
marketpulse.comCraig ErlamOct 31, 2023After 533 past bearish macro events, Euro (USD per EUR) moved a median -0.3% over 5 sessions (33% higher; middle half -1.2% to +0.2%), 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.
