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The Federal Reserve held its policy rate unchanged in a 2.25-2.5 percent range, voting unanimously. It dropped language signaling further gradual rate hikes and said it would be patient on future adjustments.
A dovish pivot weakens the dollar and reduces financing costs for commodities, which tends to support dollar-denominated prices including grains and oilseeds.
cnbc.comJeff CoxJan 30, 2019After 1,637 past bearish macro events, DXY moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
After 151 past bullish macro events, CORN moved a median +0.2% over 5 sessions (57% higher; middle half -0.9% to +1.4%), and -0.3% over 20.
After 123 past bullish macro events, SOY moved a median +0.3% over 5 sessions (60% higher; middle half -1.0% to +1.8%), and -0.4% 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.
