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Spot gold eased to about $1,661 per ounce as the dollar rebounded after a one-month low, offsetting hopes that the Fed will slow rate hikes. Strong third-quarter U.S. GDP data also weighed on sentiment, with markets expecting a 75 basis-point hike at the Nov.
1-2 meeting.
Expectations of continued large Fed hikes keep the dollar supported, a macro headwind for dollar-priced commodities including feed ingredients.
cnbc.comReutersNov 1, 2022After 2,356 past bullish macro events, DXY 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.
