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The dollar held near an 11-month high against a basket of currencies after unexpectedly strong U.S. October retail sales data. The data revived bond selling and reinforced expectations of a Federal Reserve rate increase in December.
Stronger U.S. data and expected Fed tightening support the dollar, which can weigh on dollar-priced agricultural commodities. The impact is modest because the move follows an existing trend.
reuters.comNov 15, 2016After 53 past bullish report events, US Dollar (Broad) moved a median +0.1% over 5 sessions (51% higher; middle half -0.4% to +0.5%), 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.
Strong October retail sales on 11/15 reinforced December Fed hike expectations and lifted yields and the dollar.
