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The Federal Reserve held its benchmark rate steady at its December 2019 meeting. Its updated projections show the median rate unchanged at 1.6% through 2020, rising to 1.9% in 2021, implying no moves until 2021.
A prolonged rate hold keeps the US dollar supported relative to expectations of cuts, a modest headwind for dollar-denominated commodity prices.
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.