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US stocks rallied on Wednesday after an overnight sell-off, while Treasury yields jumped on inflation expectations following Donald Trump's surprise election win. The Mexican peso was battered, and the dollar rose broadly, reaching its highest against the yen in nearly four months.
A weaker peso raises the local cost of imported US corn, soybean meal and other feed ingredients for Mexican buyers. A firmer dollar broadly pressures US commodity export prices.
business-standard.comReutersNov 9, 2016
reuters.comSinead CarewNov 9, 2016Not enough comparable past events yet for a historical read.
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.
Describes the broad dollar rally, the yen at a four-month low, a jump in Treasury yields and a peso collapse on 2016-11-09, matching the move's timing and mechanism.
