The US dollar steadied after Federal Reserve Governor Christopher Waller said the Fed should raise rates next month, even if inflation cooled, and consider a larger hike if inflation worsens. Markets fully priced in a December rate increase ahead of US October inflation data.
Higher US interest-rate expectations can support the dollar, raising the cost of dollar-denominated commodities for buyers using other currencies. The inflation data could shift those expectations and the dollar’s direction.
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.