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U.S. Treasury yields fell sharply after President Trump moved to impose escalating tariffs on Mexican imports, with the 10-year yield dropping to 2.14%. Core PCE inflation came in at 1.6% as expected, and Canada's Q1 GDP missed expectations, leaving the loonie the weakest major currency on the day as oil fell nearly 5%.
Escalating tariffs on Mexico threaten a major U.S. feed and meat trading partner, and the drop in oil prices lowers energy-linked costs and pressures the Canadian dollar.
forex.comMatt Weller CFA, CMTMay 31, 2019Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
After 80 past bearish trade events, Crude Oil (WTI) moved a median -2.2% over 5 sessions (30% higher; middle half -6.9% to +0.8%), and -1.5% over 20.
After 123 past bearish trade events, Lean Hogs moved a median -0.4% over 5 sessions (43% higher; middle half -2.9% to +2.0%), 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.
