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The US dollar was on track for a second weekly rise as better-than-expected US economic data and easing debt ceiling concerns lifted the currency. Money markets priced a 33% chance of a Fed hike the following month, up from 10% the previous week.
Higher rate-hike expectations strengthen the dollar, which weighs on dollar-priced commodity exports and raises import costs for buyers in other currencies. The influence on feed prices is indirect.
convera.comHolly ThompsonMay 19, 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.
