# High-for-longer rate outlook as takeaway from FOMC meeting: Gold, Copper, US dollar | IG International

> The Fed kept its policy rate at 5.00%-5.25% at its June meeting. Its dot plot revised the 2023 peak rate to 5.6%, implying another 50 basis points of tightening, and raised forecasts for 2024 and 2025. Powell said rate cuts were a couple of years away.

- Date: 2023-06-15 · published 2023-06-15T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/35415-high-for-longer-rate-outlook-as-takeaway-from-fomc-meeting-gold-copper-us
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A high-for-longer rate outlook supports the dollar and raises financing costs for holding commodity inventories, which tends to weigh on commodity prices.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2024-12-19 | [FOMC meeting round-up: Where are U.S. dollar, gold and Japan 225 headed? \| IG International](https://feedsoft.ai/events/26851-fomc-meeting-round-up-where-are-u-s-dollar-gold-and-japan-225-headed-ig.md) | +0.5% | +1.4% |
| DXY | 2023-03-02 | [Sterling falls as interest rate outlook and strong dollar weigh](https://feedsoft.ai/events/37124-sterling-falls-as-interest-rate-outlook-and-strong-dollar-weigh.md) | +0.7% | -0.8% |
| DXY | 2017-10-29 | [Pound To Dollar Exchange Rate Outlook: BoE And FOMC Meetings Ahead \| Exchange Rates UK](https://feedsoft.ai/events/68719-pound-to-dollar-exchange-rate-outlook-boe-and-fomc-meetings-ahead-exchange.md) | -0.2% | -1.6% |
| DXY | 2023-02-24 | [Dollar steady on higher-for-longer rates outlook; yen volatile \| Financial Post](https://feedsoft.ai/events/37556-dollar-steady-on-higher-for-longer-rates-outlook-yen-volatile-financial-post.md) | +0.0% | -1.1% |
| DXY | 2018-11-08 | [Euro dips after EU cuts Italian outlook; dollar up before Fed meeting \| Gold Eagle](https://feedsoft.ai/events/62244-euro-dips-after-eu-cuts-italian-outlook-dollar-up-before-fed-meeting-gold-eagle.md) | +1.0% | +1.2% |

## Sources

- ig.com: https://www.ig.com/en/news-and-trade-ideas/high-for-longer-rate-outlook-as-takeaway-from-fomc-meeting--gold-230615

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.