# Strong US Data Boosts Rate Hike Expectations, Pressuring Precious Metals

> October non-farm payrolls rose by 165,000 and unemployment fell to 4.1%, while CPI rose 0.4% month-on-month and core CPI 0.3%, both above expectations. Market-implied odds of a December Fed hike rose to nearly 90%, and a 50-basis-point option was priced in. Fed officials, including Governor Waller, signaled a hawkish stance.

- Date: 2026-11-12 · published 2026-11-12T06:13:18.839Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/95036-strong-us-data-boosts-rate-hike-expectations-pressuring-precious-metals
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Stronger US data and a firmer Fed path lift the dollar and raise borrowing costs across commodity markets, which can reduce speculative demand and pressure dollar-quoted feed prices. Precious metals are not feed inputs, so the direct feed impact is indirect.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-06-29 | [Dollar index hits two-week high as data boosts Fed hike expectations](https://feedsoft.ai/events/35661-dollar-index-hits-two-week-high-as-data-boosts-fed-hike-expectations.md) | +0.4% | -1.2% |
| DXY | 2018-07-31 | [GBP/USD reverses BoE rate hike expectations bid - Scotiabank — Octa](https://feedsoft.ai/events/64273-gbp-usd-reverses-boe-rate-hike-expectations-bid-scotiabank-octa.md) | +0.6% | +0.6% |
| DXY | 2026-06-24 | [US dollar strengthens to 13-month high on Fed rate hike expectations \| Reuters](https://feedsoft.ai/events/11985-us-dollar-strengthens-to-13-month-high-on-fed-rate-hike-expectations-reuters.md) | -0.1% | -0.4% |
| DXY | 2022-10-31 | [Dollar gains on Fed rate hike expectations](https://feedsoft.ai/events/39325-dollar-gains-on-fed-rate-hike-expectations.md) | -0.1% | -2.8% |
| DXY | 2025-04-30 | [GBP/USD breaks below 1.3400 due to stronger US Dollar, BoE rate cut expectations — Octa](https://feedsoft.ai/events/25377-gbp-usd-breaks-below-1-3400-due-to-stronger-us-dollar-boe-rate-cut-expectations.md) | -0.5% | -0.5% |

## Sources

- news.metal.com: https://news.metal.com/newscontent/73PTORJ7ORTXPBTVRXTM6WRJIB35KSVO4EMFUYA-smm-macro-analysis-strong-us-data-boosts-rate-hike-expectations-pressuring-precious-metals

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.