
The FOMC raised the federal funds target range to 1.75%-2.00% on June 13, 2018 and signaled two more hikes in 2018. Markets reacted with stocks closing lower and the dollar firming, while crude oil rose after an inventory draw and Bitcoin fell.
Projected additional hikes support a firmer dollar, a headwind for dollar-priced commodities, while the crude rise adds some energy-cost support for feed-related 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.
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.