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The dollar fell on Friday after mixed US jobs data showed slower-than-expected October job growth and stronger prior-month hiring. Optimism that the US and China would reach a deal to end their trade war also reduced demand for the greenback as a safe haven.
A weaker dollar supports US dollar-priced commodities such as grains and oilseeds by making them cheaper for foreign buyers, while easing trade-war risk supports demand expectations for US farm exports.
reuters.comKaren BrettellNov 1, 2019After 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.
After 123 past bullish macro events, Soybeans moved a median +0.3% over 5 sessions (60% higher; middle half -1.0% to +1.8%), and -0.4% over 20.
After 151 past bullish macro events, Corn moved a median +0.2% over 5 sessions (57% higher; middle half -0.9% to +1.4%), and -0.3% 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.
