The US dollar has given back some of its gains following strong October jobs data but remains supported by robust economic activity, a firm labor market and sticky inflation. Upcoming US CPI and PPI releases are expected to influence expectations for the Federal Reserve’s December rate decision.
Expectations of higher US interest rates can support the dollar and weigh on dollar-priced commodities by making them more expensive for non-US buyers. The direction of rate expectations—and currency effects—could shift with the inflation data.
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.