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Gold traded near $1,570 after the Federal Reserve kept its target range at 1.5% to 1.75%. The decision was unanimous and the statement described the labor market as strong and activity as rising at a moderate rate.
The DXY dollar index dipped to about 97.94 and 10-year Treasury yields were around 1.6%.
A steady Fed and softer dollar give modest support to dollar-priced commodities, but the impact on feed grain and meal prices is limited.
octaafrica.netJan 29, 2020After 47 past bearish report events, US Dollar (Broad) moved a median -0.2% over 5 sessions (34% higher; middle half -0.8% to +0.2%), and -0.7% 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.
