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ING expects the Fed to keep its patient, broadly unchanged policy message at its April 28 meeting. It argues the dollar should not emerge from the meeting stronger than it entered, with high-yielding currencies such as CAD and NOK possibly outperforming.
A dovish Fed that keeps the dollar under pressure generally supports commodity prices and could help U.S. feed exports. The effect on feed markets is indirect and likely modest.
think.ing.comFrancesco PesoleApr 28, 2021After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% 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.
