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Gavyn Davies of the Financial Times compares the 2015-2016 market turbulence over China and the Fed with current conditions. He argues that markets recovered quickly after the Fed and Chinese policy shifts of early 2016, and he frames the year ahead as the key question.
The comparison suggests Fed policy and China's currency management remain linked drivers of global risk appetite and dollar strength. Those forces can move commodity prices through currency and financing channels.
ft.comGavyn DaviesJan 8, 2017After 359 past neutral macro events, DXY moved a median -0.0% over 5 sessions (49% higher; middle half -0.4% to +0.4%), and -0.1% 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.
