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U.S. consumer price data came in below expectations, sparking a rally on Wall Street. A moderate rise in weekly jobless claims pointed to a still-tight labor market.
Softer inflation eases expectations for further Federal Reserve tightening, which tends to weaken the dollar and support commodity prices priced in dollars.
reuters.comLucia MutikaniNov 10, 2022After 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.
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.
Below-expectation CPI lowered rate-hike expectations and weakened the dollar.
