
US October CPI rose 0.4% month over month, above the 0.3% forecast, while core CPI rose 0.3%, also exceeding expectations. Fed Governor Christopher Waller said he supports a December rate increase and would consider a half-point move if inflation remains elevated; the dollar strengthened and the euro fell.
Hotter inflation and expectations of tighter US monetary policy support the dollar, which can weigh on dollar-denominated commodity prices. Higher rates may also restrain demand through tighter financial conditions.
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 533 past bearish macro events, Euro (USD per EUR) moved a median -0.3% over 5 sessions (33% higher; middle half -1.2% to +0.2%), and -0.5% 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.