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The Fed held rates at 3.50% to 3.75% in an 8-4 vote, the most dissents since 1992, and hardened its inflation language citing energy prices. Powell said the energy surge had not peaked and that the easing bias could be dropped soon.
USD/CAD closed near 1.3690.
A hawkish Fed backed by energy-driven inflation supports the dollar and tightens financing conditions, pressuring commodity prices priced in dollars.
fxstreet.comJoshua GibsonApr 29, 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.
Not enough comparable past events yet for a historical read.
After 487 past bullish macro events, Crude Oil (WTI) moved a median +1.0% over 5 sessions (60% higher; middle half -2.0% to +4.0%), and +1.5% 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.
