Loading…
The dollar index reached its highest level since 2002 after the Bank of Japan pledged unlimited daily bond purchases to defend its yield cap. The dollar rose 2.16% against the yen to 131.2, and markets priced 150 basis points of Fed hikes in three meetings.
A surging dollar tends to pressure dollar-denominated commodity prices and encourages importers to buy less, while the widening rate gap with the Fed reinforces the strength of the dollar.
cnbc.comReutersApr 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.
Not enough comparable past events yet for a historical read.
After 301 past bearish macro events, Corn moved a median -0.1% over 5 sessions (47% higher; middle half -2.2% to +1.3%), and +0.2% over 20.
After 273 past bearish macro events, Soybeans moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.4%), 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.
