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The US dollar weakened as signals suggested US inflation would keep cooling, and commodity currencies such as the Australian and New Zealand dollars edged higher. Oil, copper and other raw materials also rose on the news.
A weaker dollar tends to support dollar-priced commodities, which can lift feed grain and oilseed prices for importers facing weaker local currencies.
reuters.comSaqib Iqbal AhmedJul 26, 2023After 1,637 past bearish macro events, DXY moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% 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.
