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Most commodity prices have struggled to gain since the stronger-than-expected US August CPI release, which lifted Treasury yields and the dollar. Capital Economics expects a 75bp Fed hike at the upcoming meeting, with a 100bp move not ruled out.
A firmer dollar and higher yields weigh on dollar-priced commodities, including grains and feed ingredients, and make imports more expensive for buyers outside the US.
capitaleconomics.comCaroline BainSep 16, 2022After 4,478 past macro events, US Dollar (Broad) moved a median +0.0% over 5 sessions (51% higher; middle half -0.4% to +0.5%), and +0.1% 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.
