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The US dollar fell to a two-month low after weak JOLTS job openings data and falling factory orders, which led markets to expect the Federal Reserve is nearly done hiking. Sterling and the euro rose to multi-month highs against the dollar.
A weaker dollar and lower US yields tend to support dollar-denominated commodity prices, including grains and oilseeds, by making them cheaper for foreign buyers.
cnbc.comReutersApr 4, 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.
