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Traders kept bets that the Federal Reserve will hold its benchmark rate at 5.25%-5.5% at its next meeting. The view followed July inflation data that rose as expected.
Markets still priced nearly even odds of one more rate hike by year-end.
Expectations of higher-for-longer US rates tend to support the dollar and weigh on dollar-denominated commodities, which affects feed input costs for buyers.
reuters.comAug 31, 2023After 2,356 past bullish macro events, DXY 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.
