The Fed raised rates by 25bp and Chair Yellen struck a more optimistic tone than markets expected, despite a drop in inflation. The Fed raised its GDP forecasts, lowered its unemployment estimates and reaffirmed a third hike for 2017.
The dollar traded sharply higher in response after weak retail and inflation reports had prompted short-dollar positioning.
A hawkish surprise from the Fed lifted the dollar sharply after a short-dollar positioning build-up, which tends to pressure dollar-priced grain and oilseed markets.
Após 2.356 eventos altista de macro passados, Dólar americano (amplo) subiu em mediana +0,2% em 5 sessões (60% de alta; metade central de -0,3% a +0,7%), e +0,4% em 20.
Variações do benchmark de cada commodity desde o último fechamento antes do evento. As leituras históricas agregam eventos passados do mesmo tipo; descrevem o que aconteceu, não o que vai acontecer. Não é recomendação de investimento.
Yellen's upbeat tone and raised GDP forecasts reversed short-dollar positioning, producing a sharp dollar rally.