# FX Daily: Fed brings tidings of comfort and joy | articles | ING THINK

> The Fed surprised markets by acknowledging disinflation and softening its stance, pricing in earlier easing for 2024. US two-year Treasury yields fell 30 basis points and the yield curve bull-steepened.

- Date: 2023-12-14 · published 2023-12-14T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/8299-fx-daily-fed-brings-tidings-of-comfort-and-joy-articles-ing-think
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Lower US yields and a softer dollar outlook tend to support dollar-priced commodities and can ease financing costs across the feed chain.

## Read by commodity

- DXY: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| DXY | 2023-12-14 | 1 | -1.3% | -3.8 | The Fed's disinflation acknowledgment pulled the US 2-year yield down 30 bp, narrowing rate differentials and weakening the dollar. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2021-04-28 | [FX Daily: The patient Fed and the “nervous” dollar \| articles \| ING THINK](https://feedsoft.ai/events/47788-fx-daily-the-patient-fed-and-the-nervous-dollar-articles-ing-think.md) | +0.3% | -1.0% |
| DXY | 2023-11-21 | [FX Daily: Renminbi shorts on the run \| articles \| ING THINK](https://feedsoft.ai/events/12028-fx-daily-renminbi-shorts-on-the-run-articles-ing-think.md) | -0.6% | -0.7% |
| DXY | 2022-11-11 | [FX Daily: Too early for a broad dollar downtrend \| articles \| ING THINK](https://feedsoft.ai/events/7564-fx-daily-too-early-for-a-broad-dollar-downtrend-articles-ing-think.md) | -0.7% | -1.6% |
| DXY | 2020-03-03 | [Fed and the FX markets: Tainted carry \| articles \| ING THINK](https://feedsoft.ai/events/7170-fed-and-the-fx-markets-tainted-carry-articles-ing-think.md) | +0.3% | +5.5% |
| DXY | 2023-11-15 | [FX Daily: Dollar bears may have jumped the gun \| articles \| ING THINK](https://feedsoft.ai/events/10101-fx-daily-dollar-bears-may-have-jumped-the-gun-articles-ing-think.md) | -0.9% | -0.2% |

## Sources

- think.ing.com: https://think.ing.com/articles/fx-daily-fed-brings-tidings-of-comfort-and-joy-ot/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.