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The US dollar hovered just above a two-year low on July 29 and was headed for its worst month in nine years. Gold steadied near $1,960 an ounce, and investors awaited a US$1 trillion fiscal package stalled in Congress ahead of the Fed decision.
A weakening dollar supports dollar-priced commodities and raises export competitiveness for US goods, while the stalled fiscal package adds uncertainty to demand expectations.
straitstimes.comJul 29, 2020After 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.
