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The dollar eased after the Fed kept rates at 2.25-2.50% and adopted a dovish tone, dropping its prior tightening bias. The AUD and CAD rallied mainly on higher iron ore and oil prices, while sterling was weakest on Brexit uncertainty.
A softer dollar and firmer oil prices support commodity prices, while higher oil lifts biofuel feedstock economics.
actionforex.comKBC BankFeb 2, 2019After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
After 487 past bullish macro events, Crude Oil (WTI) moved a median +1.0% over 5 sessions (60% higher; middle half -2.0% to +4.0%), and +1.5% 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.
