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The dollar eased on May 14 after US producer prices rose unexpectedly in April, with strong gains in goods and services costs. Food costs declined, and traders trimmed expectations for Fed rate cuts.
Hotter producer inflation reduces the chance of near-term Fed easing, which keeps the dollar supported and modestly pressures dollar-priced commodities.
reuters.comHerbert Lash, Joice AlvesMay 14, 2024After 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.
