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GBP/USD fell below 1.2300 after US Employment Cost Index data eased and US core PCE inflation declined for a fourth month. Markets expected the Federal Reserve to raise rates 25 basis points at its meeting that week.
Easing US inflation and expected Fed tightening influence the dollar index, and a softer dollar tends to support US commodity export prices.
octaafrica.netJan 31, 2023After 359 past neutral macro events, US Dollar (Broad) moved a median -0.0% over 5 sessions (49% higher; middle half -0.4% to +0.4%), and -0.1% over 20.
Not enough comparable past events yet for a historical read.
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.
