Dow drops 330 points after Powell hints rate cut not the start of a trend

After 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.

• Aug 25, 2023Gold drops after Powell leaves door open to more rate hikes-0.0%
• Oct 29, 2025Stocks fall, US dollar strengthens after Powell puts chill on December rate cut | Reuters+1.0%
• Jun 22, 2023Dollar, yields rise after Powell comments, Bank of England rate hike | Reuters+0.5%
• Jun 28, 2023Nasdaq ends up, dollar strengthens as Powell hints at more rate hikes | Reuters+0.4%
• Feb 28, 2018USD extends rally after Powell testimony and stock market drop. AUD can’t hold US 78 cents - OFX-0.1%

After 301 past bearish macro events, Corn moved a median -0.1% over 5 sessions (47% higher; middle half -2.2% to +1.3%), and +0.2% over 20.

• Jul 26, 2023Fed lifts rates, Powell leaves door open to another hike in September-13.9%
• Jul 31, 2019The Fed rate cut: Markets reconsider the 'Fed Put' after underwhelming cut-5.0%
• Apr 18, 2024US dollar gains after strong data, Fed comments on rate cuts-0.4%
• May 13, 2020Dollar up as Powell downplays chances of negative U.S. interest rates | Financial Post-0.3%
• Mar 8, 2023The U.S. dollar bounces to 2023 high as Fed’s Powell signals higher rates - MarketWatch-1.6%

After 273 past bearish macro events, Soybeans moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.4%), and -0.5% over 20.

• Jul 26, 2023Fed lifts rates, Powell leaves door open to another hike in September-4.5%
• Jul 31, 2019The Fed rate cut: Markets reconsider the 'Fed Put' after underwhelming cut-3.5%
• Apr 18, 2024US dollar gains after strong data, Fed comments on rate cuts+1.4%
• May 13, 2020Dollar up as Powell downplays chances of negative U.S. interest rates | Financial Post-0.8%
• Mar 8, 2023The U.S. dollar bounces to 2023 high as Fed’s Powell signals higher rates - MarketWatch-1.7%