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Treasury yields fell and the dollar weakened against a basket of currencies after the Fed kept rates at zero and signaled no hikes through 2022. Gold moved higher while stocks were mixed.
Policymakers projected a 6.5% GDP decline for 2020 and a 9.3% unemployment rate at year-end.
A weaker dollar and lower real yields tend to lift dollar-denominated commodity prices. The reaction is largely a rates story rather than a direct grain or feed supply change.
fxempire.comJames HyerczykJun 10, 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.
