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Commodities except gold closed higher after US data and Fed speeches. January CPI came in at 3.1% with core steady at 3.9%, while retail sales fell 0.8%, shifting expectations for the timing of the first Fed cut.
The dollar retreated from a three-month high.
Shifting rate-cut expectations drive dollar and yield moves that feed into commodity prices, though the effect on feed inputs is secondary.
moneycontrol.comRavindra RaoFeb 19, 2024After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% 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.
