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ING expects US February CPI to come in near consensus at 0.3% month-on-month core, with downside risk toward 0.2%. Markets were pricing a first Fed rate cut in June, and the dollar index had recently reached its 2024 high.
A softer-than-expected CPI would reduce dollar strength and could support US-priced commodity exports, though the link to feed prices is indirect.
uk.investing.comING Economic, Financial AnalysisFeb 12, 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.
