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The dollar weakened after the Federal Reserve cut rates and signaled that further cuts were unlikely, which lifted emerging market currencies. The rand slumped further ahead of the Moody's review, while the yuan rose to a 10-week high.
A softer dollar tends to support commodity prices and eases dollar-priced import costs for emerging market feed buyers. The rand's fall ahead of the rating review is a separate local pressure.
moneyweb.co.zaSusan Mathew, ReutersOct 31, 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.
Not enough comparable past events yet for a historical read.
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.
