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BBH analysts say sentiment has turned against the US dollar, with the broad trade-weighted measure set for a seventh straight monthly decline. They attribute this to political gridlock over health care reform and tax policy, with the BAT dropped.
A sustained dollar decline tends to lift dollar-priced grains, oilseeds and meal, supporting feed input prices for buyers.
octaafrica.netJul 31, 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.
After 151 past bullish macro events, Corn moved a median +0.2% over 5 sessions (57% higher; middle half -0.9% to +1.4%), and -0.3% over 20.
After 123 past bullish macro events, Soybeans moved a median +0.3% over 5 sessions (60% higher; middle half -1.0% to +1.8%), 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.
