U.S. October CPI rose 0.4% month on month, above expectations, while core CPI increased 0.3%, also exceeding forecasts. The data and hawkish Fed signals boosted the dollar and Treasury yields, sending spot gold and silver sharply lower and increasing the possibility of a larger December rate hike.
The dollar’s rise can make dollar-priced commodities more expensive for buyers using other currencies, while expectations of tighter monetary policy can weigh on commodity demand. The report strengthened the dollar.
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.