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Commerzbank economists advise the FX market not to write off the US dollar, noting that the Fed's dot plot shifted slightly higher than in December. They also flagged a large gap between market expectations of rapid rate cuts and the FOMC's projections.
Uncertainty over the dollar's direction keeps dollar-priced commodity and export competitiveness unclear, with limited direct effect on feed prices.
octabroker.comMar 23, 2023After 359 past neutral macro events, US Dollar (Broad) moved a median -0.0% over 5 sessions (49% higher; middle half -0.4% to +0.4%), and -0.1% 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.
