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The dollar recovered late on Friday after the ISM Chicago PMI rose to 73.4 from 66.1, well above forecasts. Factory-gate prices eased slightly but stayed at historically high levels, with firms citing higher material and freight costs.
Persistent high input and freight costs point to firm feed ingredient prices, while a stronger dollar on the PMI beat weighs on dollar-priced commodities.
poundsterlinglive.comJames SkinnerJul 30, 2021After 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.
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.
