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The Fed held its benchmark rate at 0.25% and kept its bond purchase program unchanged on April 28. Powell said it was not time to discuss tapering, and the dollar fell while the 10-year Treasury yield rose to 1.64%.
The Fed statement indicated rates would stay low for a long time.
Steady rates and a dovish Fed push the dollar lower, which supports dollar-priced commodities. Higher yields limit the move, so the effect on feed prices is modest.
financial-world.orgSourav DApr 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.
