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The Australian and New Zealand dollars slipped on Monday as COVID restrictions weighed on sentiment and traders weighed the Fed's path to rate hikes. The Aussie was on track for a 0.55% monthly fall, its third straight.
Powell said the Fed could begin cutting its asset purchases this year if recovery continues.
Expectations of Fed tapering and a stronger USD tend to pressure commodity currencies and dollar-denominated commodity prices. The effect on feed markets is indirect.
brecorder.comReutersAug 30, 2021Not 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.
