# The hawks are circling

> US headline CPI rose 0.4% month-on-month and core CPI rose 0.3%, both above expectations, with the three-month annualised core rate at 3.7%. Fed Governor Waller had set a threshold that the data met, prompting expectations of a larger rate hike at the December FOMC meeting.

- Date: 2026-11-15 · published 2026-11-15T18:11:42.357Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/101524-the-hawks-are-circling
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Stronger inflation and expectations of tighter Fed policy lift the dollar and bond yields, which tends to pressure dollar-denominated commodity prices and strengthen the currency of importing countries' buyers.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-10-25 | [FX Daily: Hawks versus data, part one \| articles \| ING THINK](https://feedsoft.ai/events/33851-fx-daily-hawks-versus-data-part-one-articles-ing-think.md) | +0.2% | -2.4% |
| DXY | 2024-11-13 | [Why is the euro falling and could it hit $1?](https://feedsoft.ai/events/7554-why-is-the-euro-falling-and-could-it-hit-1.md) | -0.3% | +0.1% |
| DXY | 2023-06-29 | [The Commodities Feed: Hawkish Fed comments weigh on the complex \| articles \| ING THINK](https://feedsoft.ai/events/35414-the-commodities-feed-hawkish-fed-comments-weigh-on-the-complex-articles-ing.md) | +0.4% | -1.2% |
| DXY | 2016-11-22 | [Covering the Floor Price](https://feedsoft.ai/events/73883-covering-the-floor-price.md) | +0.1% | +1.0% |
| DXY | 2019-11-28 | [EUR: The funding currency \| articles \| ING THINK](https://feedsoft.ai/events/56282-eur-the-funding-currency-articles-ing-think.md) | -0.6% | -1.8% |

## Sources

- thenational.co.za: https://thenational.co.za/news/2026-11-15-the-hawks-are-circling/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.