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Sterling fell to a record low against the dollar after speculation that the UK would launch a stronger intervention, possibly including emergency rate moves. Gilt yields soared on the day.
Possible emergency rate action and currency volatility add uncertainty to dollar strength and global financial conditions that feed into commodity pricing.
bloomberg.comDavid Goodman, Philip Aldrick, Libby CherrySep 26, 2022After 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.
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.
