
The US dollar remained near an 18-month high against the euro as futures put the probability of a December Federal Reserve rate hike at 81%, up from 71% a week earlier. The Australian and New Zealand dollars rebounded after a technology-driven selloff, while investors awaited US inflation data.
Stronger expectations for US rate hikes can support the dollar and make dollar-priced commodities more expensive for many importers. A weaker Australian dollar relative to the US dollar could also affect Australian exporters’ competitiveness, though the article reports a rebound in the currency.
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.
Not enough comparable past events yet for a historical read.
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.