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The US dollar fell against its peers after the ISM manufacturing PMI for October came in at 57.7, below the 59.0 forecast. The Bank of England kept its base rate unchanged at 0.75%, and the pound stayed near its daily highs.
Antipodean currencies gained almost 2%.
A weaker-than-expected ISM reading points to slower US industrial demand and lowers the dollar, which tends to support dollar-priced commodities. The effect on feed prices is modest.
xtb.comNov 1, 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.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
