◂ Event Timeline

Dec 17, 2020MACROGlobal

Fed’s dollar swap lines and ‘Fima’ facility to run nine more months

The Federal Reserve extended its dollar swap lines and the FIMA repo facility until September 30, 2021. The Fed kept its main policy tools unchanged while adjusting guidance on asset purchases at its December 2020 meeting.

WHY IT MATTERS

Extended dollar funding backstops reduce global dollar-funding stress, which has only a modest direct effect on feed commodity prices.

AFFECTSUS Dollar (Broad)

SOURCE
centralbanking.comDaniel HingeDec 17, 2020

Price reaction & history

US Dollar (Broad)no directional readSO FAR1d -0.4%5d +0.2%20d -0.2%

After 4,478 past macro events, US Dollar (Broad) moved a median +0.0% over 5 sessions (51% higher; middle half -0.4% to +0.5%), and +0.1% over 20.

Mar 19, 2020Fed opens dollar swap lines for 9 additional foreign central banks+0.5%
Nov 24, 2020Did the Fed’s Dollar Swap Lines and FIMA Repos Work? | St. Louis Fed-1.0%
Jul 30, 2020US dollar funding tensions and central bank swap lines during the COVID-19 crisis-0.3%
Dec 16, 2020Fed extends pandemic-related dollar 'swap' lines for 9 other central banks+0.3%
Jul 30, 2020Fed extends swap lines and warns of slowing US economy - Central Banking-0.3%

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.

US Dollar (Broad) DXY · GP ▸

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