
The dollar index climbed to a 1.5-year high as Treasury yields rose after hawkish comments from Fed officials, and markets priced a 100% chance of a 25 basis point hike at the December 8-9 FOMC meeting. US October existing home sales fell to a 16-year low of 3.75 million, and weekly jobless claims rose to 200,000.
Higher US rates and a firmer dollar weigh on dollar-denominated commodity prices and can reduce foreign buying of US feed grains and meals. Tighter financial conditions also add pressure on livestock and feed-using sectors through higher borrowing costs.
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.