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The Fed held rates unchanged and maintained two expected cuts for 2025, though more officials now expect no cuts this year. Powell warned of high inflation in coming months and the dollar index rose, pressuring copper.
A firmer dollar and delayed rate cuts weigh on dollar-priced commodities and raise the cost of holding inventory.
After 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.