# FX Daily: Fed rate hike may play second fiddle amid multiple drivers | articles | ING THINK

> ING expects the Fed to raise rates by 25 basis points and signal further tightening, while the Ukraine conflict adds uncertainty. Russia and Ukraine resumed peace talks, lifting hopes of de-escalation and weakening the dollar, while the yuan recovered on reports Saudi Arabia may accept yuan for crude.

- Date: 2022-03-16 · published 2022-03-16T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/42500-fx-daily-fed-rate-hike-may-play-second-fiddle-amid-multiple-drivers-articles
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A weaker dollar on de-escalation hopes tends to support dollar-priced commodities, while Fed tightening is largely priced in.

## Read by commodity

- DXY: bearish ▼
- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-11-15 | [FX Daily: Dollar bears may have jumped the gun \| articles \| ING THINK](https://feedsoft.ai/events/10101-fx-daily-dollar-bears-may-have-jumped-the-gun-articles-ing-think.md) | -0.9% | -0.2% |
| DXY | 2021-04-28 | [FX Daily: The patient Fed and the “nervous” dollar \| articles \| ING THINK](https://feedsoft.ai/events/47788-fx-daily-the-patient-fed-and-the-nervous-dollar-articles-ing-think.md) | +0.3% | -1.0% |
| DXY | 2023-12-14 | [FX Daily: Fed brings tidings of comfort and joy \| articles \| ING THINK](https://feedsoft.ai/events/8299-fx-daily-fed-brings-tidings-of-comfort-and-joy-articles-ing-think.md) | -1.3% | -1.3% |
| DXY | 2023-11-21 | [FX Daily: Renminbi shorts on the run \| articles \| ING THINK](https://feedsoft.ai/events/12028-fx-daily-renminbi-shorts-on-the-run-articles-ing-think.md) | -0.6% | -0.7% |
| DXY | 2020-04-27 | [FX Daily: Falling interbank rates should drag the dollar lower \| articles \| ING THINK](https://feedsoft.ai/events/53819-fx-daily-falling-interbank-rates-should-drag-the-dollar-lower-articles-ing-think.md) | -0.8% | -1.5% |
| USDCNY | 2023-11-21 | [FX Daily: Renminbi shorts on the run \| articles \| ING THINK](https://feedsoft.ai/events/12028-fx-daily-renminbi-shorts-on-the-run-articles-ing-think.md) | -0.4% | -0.5% |
| USDCNY | 2019-07-08 | [China gets net capital inflows \| articles \| ING THINK](https://feedsoft.ai/events/58329-china-gets-net-capital-inflows-articles-ing-think.md) | -0.2% | +0.7% |
| USDCNY | 2022-12-01 | [US dollar strength has ‘reached peak’, China’s central bank says, as Fed considers scaling back rate hikes \| South China Morning Post](https://feedsoft.ai/events/6579-us-dollar-strength-has-reached-peak-china-s-central-bank-says-as-fed-considers.md) | -1.7% | -1.8% |

## Sources

- think.ing.com: https://think.ing.com/articles/fx-daily-fed-hike-one-of-multiple-drivers/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.