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The Federal Reserve kept rates at 5.25%-5.50% and dropped its tightening bias but signaled no imminent easing. Powell said policymakers may not be confident enough to cut at the next meeting.
Traders are now looking to the upcoming US jobs report for clues on a March cut.
Uncertainty over a March cut supports a firmer dollar in the near term, which can weigh on dollar-priced commodities. A weak jobs print could reverse that pressure.
fxnews24.co.ukDavid GrahamJan 31, 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.
