# Dollar Powered Up by Fed Powell, Broke Key Resistance Against Euro - ActionForex

> The dollar strengthened after the Fed's 25-basis-point cut to 2.00-2.25% was seen as less dovish than expected, with Powell indicating it was not the start of a lengthy easing cycle. EUR/USD broke below 1.1107, confirming a downtrend, and the yen and sterling also weakened against the dollar.

- Date: 2019-08-01 · published 2019-08-01T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/10781-dollar-powered-up-by-fed-powell-broke-key-resistance-against-euro-actionforex
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

A broad dollar rally tightens global financing and makes US commodities more expensive for buyers paying in other currencies, which can soften dollar-quoted feed grain and meal prices.

## Read by commodity

- DXY: bullish ▲
- EURUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-06-29 | [Euro dives, dollar rises after Fed's Powell reaffirms hawkish stance](https://feedsoft.ai/events/41144-euro-dives-dollar-rises-after-fed-s-powell-reaffirms-hawkish-stance.md) | +2.0% | +1.8% |
| DXY | 2017-08-31 | [Dollar Maintaining Data Inspired Gains, Yen Broadly Lower as Risk Aversion Eased - ActionForex](https://feedsoft.ai/events/69643-dollar-maintaining-data-inspired-gains-yen-broadly-lower-as-risk-aversion-eased.md) | -1.4% | +0.8% |
| DXY | 2021-06-18 | [Fed-fuelled dollar up in Europe - Business & Finance - Business Recorder](https://feedsoft.ai/events/5934-fed-fuelled-dollar-up-in-europe-business-and-finance-business-recorder.md) | -0.2% | +0.4% |
| DXY | 2017-05-09 | [Dollar Surges Broadly as Markets Raising Bets on June Fed Hike - ActionForex](https://feedsoft.ai/events/71189-dollar-surges-broadly-as-markets-raising-bets-on-june-fed-hike-actionforex.md) | -0.6% | -2.1% |
| DXY | 2023-03-15 | [Euro Slumps against Pound and Dollar as European Banking Fears Rise](https://feedsoft.ai/events/10082-euro-slumps-against-pound-and-dollar-as-european-banking-fears-rise.md) | -0.1% | -1.2% |
| EURUSD | 2022-06-29 | [Euro dives, dollar rises after Fed's Powell reaffirms hawkish stance](https://feedsoft.ai/events/41144-euro-dives-dollar-rises-after-fed-s-powell-reaffirms-hawkish-stance.md) | -3.4% | -4.0% |
| EURUSD | 2021-09-28 | [Surging Inflation Fears Stoke Pound Sterling Advance against the Euro and Dollar](https://feedsoft.ai/events/45311-surging-inflation-fears-stoke-pound-sterling-advance-against-the-euro-and-dollar.md) | -0.7% | -1.0% |
| EURUSD | 2023-11-30 | [US dollar falls on dovish remarks by Fed's Powell](https://feedsoft.ai/events/32901-us-dollar-falls-on-dovish-remarks-by-fed-s-powell.md) | -1.6% | +0.9% |

## Sources

- actionforex.com: https://www.actionforex.com/action-insight/market-overview/221440-dollar-powered-up-by-fed-powell-broke-key-resistance-against-euro/

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