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The US Federal Reserve cut its benchmark rate by a quarter point to 2.00%-2.25%, the first cut since 2008. Gold futures settled down 0.4% at $1,431.80 an ounce as the statement lacked a clearly dovish signal.
A firmer dollar after a cut with a hawkish tilt weighs on dollar-denominated commodities and lowers the appeal of hard assets, which can pressure feed-related prices.
cnbc.comReutersJul 31, 2019After 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.
