
The US dollar strengthened as Fed Governor Christopher Waller said a half-point rate hike in December could be needed if October core inflation is around 0.3% or higher. EUR/USD turned slightly lower ahead of the US CPI release, while ECB officials also signaled support for a December rate hike.
Expectations of tighter US monetary policy can support the dollar and weigh on EUR/USD. The article reports no direct change in feed or agricultural commodity supply or demand.
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.