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Commodities rose in early European trade as the U.S. dollar weakened on profit-taking ahead of the U.S. inflation report. Initial jobless claims had fallen to 243,000, but the Fed remained divided on a rate hike before year-end.
A weaker dollar supports dollar-priced commodities, including grains and meals, by making them cheaper for non-U.S. buyers. The move is a routine short-term swing rather than a fundamental shift.
dailyinvestnews.comBen MyersOct 13, 2017After 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.
