
The US dollar edged higher after Federal Reserve Governor Christopher Waller called for another rate increase next month, even if inflation cooled, and said a half-point hike should be considered if inflation worsens. Markets were awaiting US October inflation data, with economists expecting headline inflation of 3.9% and core inflation of 2.8% year over year.
Expectations of higher US interest rates can support the dollar, making dollar-priced feed commodities more expensive for buyers using other currencies and potentially weighing on demand and prices.
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.