◂ Event Timeline

Jun 23, 2023MACROUS

Stocks fall, dollar up as investors weigh more rate hikes

Global stocks fell and the dollar rose on Friday as Fed officials signaled further rate hikes. San Francisco Fed President Mary Daly called two more hikes this year a reasonable projection.

WHY IT MATTERS

Expectations of further tightening lift the dollar and weigh on risk assets, a mild headwind for commodity prices.

AFFECTSUS Dollar (Broad)▲

SOURCE
reuters.comCaroline ValetkevitchJun 23, 2023

Price reaction & history

US Dollar (Broad)▲bullishSO FAR1d +0.3%5d +0.6%20d -0.7%

After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.

Jun 13, 2018Dollar mostly firmer as Fed sees more U.S. rate hikes | Reuters+1.3%
Nov 25, 2021Asian stocks fall on dollar strength, Bank of Korea hikes rates | Reuters-0.2%
Jun 14, 2023US dollar falls, but off four-week lows, as Fed signals more rate hikes | Reuters-0.4%
Jun 28, 2023Nasdaq ends up, dollar strengthens as Powell hints at more rate hikes | Reuters+0.4%
Sep 16, 2026Canadian dollar hits six-week low as investors bet on additional Fed rate hikes | Reuters+0.6%

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.

US Dollar (Broad) DXY · GP ▸

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