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BBH says the dollar remains under pressure ahead of the FOMC meeting, with a hawkish hold seen as most likely. It notes Q4 final domestic purchases rose 4.8% and core PCE inflation was revised up to 1.9%, with the 10-year breakeven near 2.10%, a three-year high.
Trump's State of the Union offered no lifeline for the dollar.
A weaker dollar tends to support dollar-denominated grain and oilseed prices, while rising US inflation expectations and growth support the currency's outlook. Feed buyers should watch for the Fed signal as it could shift the dollar's direction.
octaafrica.netJan 31, 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.
