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The dollar fell to a one-week low after ADP data showed U.S. private payrolls dropped by 301,000 in January, against a Reuters poll forecast of a 207,000 gain. The euro rose for a third day after euro zone inflation hit a record high, which fueled bets on earlier ECB rate increases.
Weaker U.S. jobs data reduced expectations of aggressive Fed tightening, which supports dollar-priced commodities. The price effect on feed ingredients is small.
cnbc.comReutersFeb 2, 2022After 47 past bearish report events, US Dollar (Broad) moved a median -0.2% over 5 sessions (34% higher; middle half -0.8% to +0.2%), and -0.7% over 20.
After 20 past bullish report events, Euro (USD per EUR) moved a median +0.7% over 5 sessions (70% higher; middle half -0.0% to +1.6%), and +1.1% 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.
