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The EUR/USD exchange rate fell into a downtrend in late December amid Italian banking sector concerns, while the dollar rallied on forecasts of multiple Fed rate hikes in 2017. The article notes November US pending home sales contracted unexpectedly.
A stronger dollar on Fed hike expectations generally pressures US dollar-denominated grain and oilseed prices, while euro weakness reduces European import demand competitiveness for US feed ingredients.
exchangerates.org.ukAdam SolomonDec 28, 2016After 533 past bearish macro events, Euro (USD per EUR) moved a median -0.3% over 5 sessions (33% higher; middle half -1.2% to +0.2%), and -0.5% over 20.
After 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.
