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Metals rose after Fed Chairman Powell suggested rate hikes could be slower than anticipated, weakening the US dollar. Most base metals responded positively.
A softer dollar tends to lift dollar-denominated commodity prices, but the story concerns metals rather than feed ingredients, so the feed price effect is indirect.
miningnews.netMichael QuinnNov 28, 2018After 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.
