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The dollar rose against the euro after euro-zone inflation hit a record 10.0% in September, while sterling fell on UK fiscal concerns. The dollar was on track for its biggest quarterly gain since 2015 but was set for its first weekly decline in three weeks.
A stronger dollar makes US commodities more expensive for buyers using other currencies, which tends to weigh on grain and meal prices. The euro and sterling weakness also affects European import costs.
cnbc.comReutersSep 30, 2022After 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.
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.
