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EUR/USD fell about 1% to near parity after US GDP data beat expectations and the ECB delivered a 75 basis point hike. The dollar gained as a safe haven.
A stronger dollar makes dollar-priced US grain, soybean meal and other feed commodities more expensive for importers, which typically weighs on prices.
exchangerates.org.ukAdam SolomonOct 28, 2022After 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.
