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Markets sold dollar positions after weaker-than-expected U.S. core inflation and China's easing of Covid restrictions. ING argues a sustained dollar downtrend is premature because the Fed pivot is not yet assured.
Fed funds futures now price only 50bp in December and a 4.95% peak rate in 2023.
Continued dollar weakness would lower the cost of dollar-priced feed imports, but uncertainty about the Fed path makes a lasting decline less certain.
在过去 1,637 次看跌的宏观事件之后,美元(广义) 在 5 个交易日内中位数变动 -0.2%(39% 上涨;中间一半区间为 -0.6% 至 +0.3%),20 个交易日内为 -0.2%。
各商品基准价相对事件前最后收盘价的变动。历史数据汇总同类过往事件;仅描述已发生的情况,不代表未来走势。不构成投资建议。
Dollar positions were sold on weak core inflation and China easing, with futures pricing a smaller Fed hike.