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AUD/USD tumbled to near 0.7081 as the US dollar index climbed toward a two-decade high ahead of the Federal Reserve meeting. Australian inflation of 5.1% beat forecasts but did not support the Aussie.
Expectations of a larger Fed hike keep the dollar strong, which pressures commodity prices priced in dollars and can lift the cost of imported inputs for buyers outside the US.
octaafrica.netApr 28, 2022Not enough comparable past events yet for a historical read.
After 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.
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.
