According to State Street, global investors in US stocks and bonds cut their dollar hedging to the lowest level since 2014, with the ratio falling to 44.5% in October. Traders expect the Fed to hike as soon as December, which makes hedging more expensive and supports the dollar.
Expectations of Fed tightening support the dollar, which can weigh on dollar-priced commodities and raise the cost of imported feed inputs for buyers in other currencies.
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.
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.