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Markets raised expectations for the Federal Reserve’s interest-rate path after a higher-than-expected monthly CPI reading and hawkish comments from Fed Governor Christopher Waller. The dollar strengthened, while the article notes that lower oil prices or progress toward restoring Hormuz flows could weaken the case for further tightening.
A more hawkish Fed outlook can support the dollar and raise the cost of dollar-priced imports for buyers using other currencies. Lower oil prices could ease inflation pressures and reduce that support for the dollar.
fxstreet.comDavid StritchNov 11, 2026After 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.
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.
