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US inflation was flat in October, falling to 3.2% annually from 3.7%, and UK annual inflation dropped to 4.6% from 6.7%. Commentary suggests further rate hikes in both countries are less likely and cuts may come as soon as next year.
Lower inflation and expected rate cuts in the US and UK weaken the dollar and ease financing costs, which is mildly supportive for commodity prices. The link to feed markets is indirect.
petermartin.com.auNov 1, 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.
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.
