The dollar held above 102 after stronger-than-expected U.S. employment data reinforced expectations that the Federal Reserve could raise interest rates in December. The euro traded near its weakest level since May 2025 as investors awaited U.S. inflation data.
Dollar strength can increase the cost of imported feed and agricultural commodities for buyers whose currencies are weaker against the dollar. Higher U.S. rate expectations may also weigh on commodity demand at the margin.
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.
After 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.
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.