The dollar erased most gains after President Trump criticized the Federal Reserve for raising rates in a CNBC interview, while US equities fell. Commodities slid into correction territory, with copper below $6,000, WTI near $68 and gold crashing through $1,220.
A rebounding dollar and falling commodities signal weaker raw-material prices, and trade threats from China add downside risk to agricultural export demand.
After 359 past neutral macro events, US Dollar (Broad) moved a median -0.0% over 5 sessions (49% higher; middle half -0.4% to +0.4%), and -0.1% over 20.
After 565 past bearish macro events, Crude Oil (WTI) moved a median -1.4% over 5 sessions (41% higher; middle half -5.9% to +3.0%), and -0.5% over 20.
After 273 past bearish macro events, Soybeans moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.4%), and -0.5% 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.