
Markets increased their expectations of a December Federal Reserve rate hike ahead of US inflation data, after Governor Christopher Waller supported a hike and said hotter inflation could warrant a half-point increase. Bitcoin and gold declined just over 1%, while the dollar index remained firm; the report also notes oil retreated amid easing Iran tensions.
Rate expectations and dollar moves can influence dollar-denominated commodity prices, while easing Iran tensions may reduce the geopolitical premium in crude. The article gives no direct feed-grain supply or demand signal.
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.
After 565 past bearish macro events, Crude Oil (WTI) moved a median -1.4% over 5 sessions (41% higher; middle half -5.9% to +3.0%), and -0.5% over 20.
After 312 past bearish macro events, Crude Oil (Brent) moved a median -1.7% over 5 sessions (38% higher; middle half -5.4% to +2.3%), and -1.7% 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.