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The dollar rallied as the House Rules Committee advanced the debt-ceiling bill and European and Chinese data weakened. Job openings in April rose to 10.1 million, above expectations, and 10-year Treasury yields fell to 3.65%.
A firmer dollar on debt-ceiling and growth concerns pressures dollar-denominated commodity prices, while softer Chinese growth reduces demand expectations for feed inputs.
ofx.comWednesdayMay 31, 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.
After 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.
