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The dollar rose to an eight-day high after US consumer prices rose 7.5% year on year in January, a 40-year peak. Fed and ECB officials signaled more aggressive rate hikes, widening the yield gap in the dollar's favour.
Expectations of aggressive Fed tightening strengthen the dollar and weigh on dollar-priced commodities, while higher rates raise financing costs for feed buyers and holders of stocks.
brecorder.comReutersFeb 11, 2022After 2,356 past bullish macro events, DXY moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
After 533 past bearish macro events, EURUSD moved a median -0.3% over 5 sessions (33% higher; middle half -1.2% to +0.2%), and -0.5% 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.
