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The US dollar index fell over 3% in November, on track for its largest monthly decline since November 2022, as lower US bond yields weakened the currency. Gold pushed back above $2,000 and AUD/USD approached key technical resistance levels.
A weaker dollar lowers the local-currency cost of dollar-priced commodities for importers and tends to support commodity prices broadly, though this is a general macro move.
forex.comDavid ScuttNov 26, 2023After 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.
Not enough comparable past events yet for a historical read.
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.
