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The dollar index fell 0.43% to 102.88 on Friday after data showed softer consumer spending. Markets still priced an 84% chance of a July Fed hike.
Softer dollar moves modestly support dollar-priced commodities, but rate expectations remain high, so the effect on feed prices is limited.
reuters.comChuck MikolajczakJun 30, 2023After 1,637 past bearish macro events, US Dollar (Broad) 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.
