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Commodity prices are expected to stay volatile with a mild downward bias as recession fears grow. The Fed raised rates 75 basis points, and the ECB, RBI and Bank of Canada also tightened.
Global central bank tightening and demand worries point to softer commodity prices in the near term, which could ease input costs for feed buyers.
moneycontrol.comHareesh VJul 30, 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 565 past bearish macro events, Crude Oil (WTI) moved a median -1.4% over 5 sessions (41% higher; middle half -5.9% to +3.0%), 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.
