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The dollar hit its highest since March 2017 against the yen and traded near a 16-month peak against major peers. Strong US retail sales and consumer price data boosted bets on earlier Federal Reserve rate hikes.
The euro and Australian dollar weakened, with Fed hike pricing for June and November.
Earlier Fed hikes would lift the dollar further, weighing on dollar-priced commodities and pressuring currencies of major feed exporters such as Australia.
devdiscourse.comReutersNov 17, 2021After 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.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
