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Goldman Sachs says it sees no case for sustained dollar appreciation despite the hawkish June FOMC meeting. It expects one Fed rate hike by end-2023, compared with roughly three priced in by markets, and sees 1.5-3.0% near-term upside risk for the broad dollar.
A bank forecast of a weaker dollar than market pricing implies less downward pressure on dollar-denominated commodities over the medium term, though near-term dollar strength remains a risk.
octaafrica.netJun 22, 2021After 359 past neutral macro events, US Dollar (Broad) moved a median -0.0% over 5 sessions (49% higher; middle half -0.4% to +0.4%), and -0.1% 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.
