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The Australian dollar eased from a two-week high after Federal Reserve Chair Jerome Powell gave an updated U.S. economic outlook. The Fed held rates near zero and projected a 3.7% contraction for 2020 and unemployment of 7.6%, lifting U.S. bond yields and the dollar.
A stronger dollar on Fed guidance of extended near-zero rates tends to weigh on dollar-denominated commodity prices and supports U.S. export competitiveness.
tradingpedia.comMiroslav MarinoffSep 17, 2020After 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.
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.
