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US stocks rose and the dollar gained after the Federal Reserve described economic growth as solid. The Fed reinforced expectations for a December rate increase.
Trump's selection of Powell as Fed chair was also reported.
Expectations of tighter US policy support the dollar, which can weigh on dollar-priced commodities. The impact on feed markets is modest.
bloomberg.comJeremy Herron, Sarah PonczekNov 1, 2017After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), 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.
