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Federal Reserve policymakers kept rates unchanged on November 2 but dropped the phrase signaling a 'next meeting' move. Strategists still expected a December hike if financial conditions and the economy held up.
A likely December rate hike supports the dollar and tightens dollar-funded financial conditions, which tends to weigh on dollar-priced commodities.
cnbc.comPatti DommNov 2, 2016After 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.
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.
