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The greenback edged higher ahead of key US data on August 29, with the trade-weighted dollar up about 2% for the month and at 12-week highs. USD/CAD topped 1.36 as markets priced a 60% chance of a Fed hike by November.
A firmer dollar on rate expectations weighs on dollar-denominated feed commodity prices and raises the cost of imports for emerging-market feed buyers.
convera.comHolly ThompsonAug 29, 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.
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.
