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The Australian and New Zealand dollars rose after US inflation came in no hotter than expected, triggering liquidation of long US dollar positions. Markets implied roughly an 80% chance of a Federal Reserve rate hike as early as March.
A softer dollar on inflation data supports dollar-priced commodities and eases import costs for Asian buyers, though the market's firm expectations for Fed tightening limit the downside for the dollar.
brecorder.comReutersJan 13, 2022After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% 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.
