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TreasuryONE notes a flight to the US dollar after Powell's Jackson Hole speech, which markets read as a hawkish signal with no Fed pivot in sight. Gold also sold off, and the euro faces pressure from Eurozone energy costs and inflation at 9.1%.
A firm dollar and an energy-driven euro slump raise the cost of dollar-priced grain and oilseed imports for buyers outside the US and add to pressure on global feed input costs.
ghostmail.co.zaTreasuryONEAug 31, 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.
After 533 past bearish macro events, EURUSD 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.
