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The dollar eased from two-year highs after weak U.S. manufacturing data showed factory activity at its lowest in almost a decade in May. Investors worried the US-China trade conflict could hurt the economy and the dollar's safe-haven status.
Weaker US growth expectations raise odds of Fed rate cuts, which tend to weaken the dollar and can support dollar-priced commodities like grains and oilseeds. A softer dollar also tends to help US export competitiveness.
cnbc.comReutersMay 24, 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.
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.
