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Powell said inflation remained too high at the Jackson Hole symposium, though he acknowledged progress. He suggested rates could stay elevated for an extended period and left room for more hikes.
Commodity markets were positioned for volatility ahead of US jobs and PCE data that week.
Expectations of restrictive policy for longer support the dollar and add volatility to commodity markets, with indirect effects on feed input prices.
moneycontrol.comAug 27, 2023After 4,478 past macro events, US Dollar (Broad) moved a median +0.0% over 5 sessions (51% higher; middle half -0.4% to +0.5%), and +0.1% 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.
