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The Australian dollar fell to a post-GFC low after the Federal Reserve's rate decision disappointed markets, with the DXY dollar index breaking out. Equities, bonds and emerging-market stocks sold off, while US ADP employment data was solid but Chicago PMI was weak.
A stronger US dollar and risk-off moves tend to pressure dollar-denominated commodity prices and make US feed and grain exports less competitive in weaker-currency markets.
macrobusiness.com.auHouses, HolesJul 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.
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.
