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US stocks rebounded sharply after steep overnight futures losses, with the Dow rising more than 250 points on heavy volume. The dollar jumped and the Mexican peso fell another 8 percent to record lows as markets focused on Trump's proposed infrastructure spending and tax cuts.
A record-low peso sharply raises the cost of imported US feed ingredients for Mexican livestock producers. The stronger dollar also pressures US commodity prices in dollar terms.
cnbc.comPatti DommNov 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.
Same-day report of the dollar jumping as markets priced in Trump's fiscal stimulus and tax cuts, with the peso at record lows, confirming the broad USD strength.
