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ING analysts wrote on June 7 that markets had fully priced in Fed rate cuts, with about 67bp of easing by end-2019. They noted the dollar was holding up because of wide US yield differentials and uncertainty over overseas growth.
Market pricing of Fed easing shapes expectations for dollar direction, and a weaker dollar would generally support dollar-priced commodity demand from importers.
think.ing.comChris Turner, Francesco PesoleJun 7, 2019After 359 past neutral macro events, DXY 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.
