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Asian currencies were largely flat on August 28 as traders awaited clues on the size of the expected Fed cut. The South Korean won fell about 0.5%, while the ringgit traded flat to 0.2% lower.
Currency moves in a holding pattern leave commodity pricing mostly tied to Fed expectations; a larger Fed cut would weaken the dollar and support dollar-priced commodities.
interaksyon.philstar.comArchishma Iyer, Sherin Sunny via ReutersAug 28, 2024After 359 past neutral macro events, US Dollar (Broad) moved a median -0.0% over 5 sessions (49% higher; middle half -0.4% to +0.4%), and -0.1% 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.
