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US economic growth in 2018 fell short of President Trump's 3 percent target. Slowing growth, weakening global demand and Brexit uncertainty led Fed Chairman Powell to reaffirm a patient stance on further rate hikes in congressional testimony.
A slower US economy and a patient Fed reduce pressure for a stronger dollar, which is supportive for dollar-priced grain and meal exports. Weaker global demand is a headwind for feed demand.
reuters.comLucia MutikaniFeb 28, 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.
