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Technical analysis of the December US Dollar Index futures notes the index closed nearly 1% higher on Monday ahead of the FOMC meeting. Traders are pricing roughly a 50% chance of a 50bp hike in December.
A stronger dollar ahead of the Fed decision tends to pressure dollar-denominated commodity prices, though the light volume signals a wait-and-see market.
fxempire.comJames HyerczykOct 31, 2022Not 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.
