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Risk appetite fell as a US tech sell-off developed ahead of the US Treasury quarterly refunding and the FOMC meeting. The dollar traded higher against most major currencies.
A firmer dollar weighs on dollar-priced commodities and makes US exports less competitive. Risk-off moves can also pressure commodity prices broadly.
snbchf.comMarc ChandlerJan 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.
