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The U.S. dollar rose against major currencies after stronger-than-expected data showed jobless claims at a 28-year low and a Philly Fed index at double expectations. The data revived expectations for a Federal Reserve rate hike and pushed safe-haven currencies lower.
A firmer dollar and higher U.S. rate expectations tend to weigh on dollar-denominated grain and oilseed prices while making U.S. exports less competitive.
cnbc.comReutersMay 18, 2017After 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 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.
