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Commodity traders are positioning ahead of Jerome Powell's expected Fed rate hike of at least 75 basis points. Gold held above a two-year low, crude was paring losses, and metals were steady.
Expectations of a large hike and a stronger dollar put downward pressure on energy, metals and crops. Markets are watching the Fed for direction.
moneyweb.co.zaOliver Bunic/Bloomberg, BloombergSep 19, 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.
