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BBH notes that Warsh's hawkish Jackson Hole speech sharply raised market odds of a September Fed hike to about 60%, supporting the dollar and short-term Treasury yields. Upcoming ISM, ADP and payrolls data are seen as key to keeping a hike in play.
Rising US rate expectations support the dollar and raise financing costs, which can weigh on dollar-priced commodities and fund positioning in agricultural markets.
fxstreet.comFXStreet Insights TeamAug 31, 2026After 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.
