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St Louis Fed President James Bullard made hawkish comments on inflation and tapering, sending the US dollar higher. Treasury yields had earlier fallen after the FOMC meeting, and the dollar was extending its post-meeting rally.
Hawkish Fed commentary supports the dollar and tends to pressure dollar-priced agricultural commodities and feed import affordability.
forex.comGlobal authorJun 18, 2021After 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.
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.
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.
