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Powell said the July 31 rate cut was a 'midcycle adjustment' to policy and not the first of a long cutting cycle. The Dow fell as much as about 470 points intraday after the comments.
Reduced odds of additional cuts support the dollar and weigh on risk assets and commodities, which feeds into dollar-priced feed ingredient costs.
cnbc.comJeff CoxJul 31, 2019After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% 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.
