Loading…
The dollar strengthened on March 2 after US jobless claims pointed to a strong labor market and labor costs were revised higher. Fed officials signaled a slow and steady approach to rate hikes.
A strong labor market and expectations of further rate hikes support the dollar, which tends to pressure dollar-denominated commodity prices.
reuters.comHerbert LashMar 2, 2023After 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.
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.
