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The dollar inched up on May 3, 2017 ahead of the Fed statement, with the dollar index at 99.094 near a 5.5-month low. Markets priced a 65% chance of a June hike, and the euro held near $1.09.
Expectations of a June Fed hike are supporting the dollar, which tends to weigh on US dollar-denominated commodity prices.
foxbusiness.comReutersMay 3, 2017After 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 533 past bearish macro events, Euro (USD per EUR) moved a median -0.3% over 5 sessions (33% higher; middle half -1.2% to +0.2%), 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.
