# Dollar jumps on Powell renomination, euro hurt by COVID lockdowns

> The dollar hit a 16-month high against the euro after Jerome Powell was renominated as Fed chair, while the euro fell on renewed COVID lockdowns in Austria and considerations in Germany. The dollar index rose to 96.29, its highest since July 2020.

- Date: 2021-11-22 · published 2021-11-22T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/11255-dollar-jumps-on-powell-renomination-euro-hurt-by-covid-lockdowns
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

A firmer dollar and expectations of less dovish US policy tend to weigh on dollar-priced commodities, while a weaker euro shifts European feed demand and competitiveness.

## Read by commodity

- DXY: bullish ▲
- EURUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2024-04-12 | [Dollar jumps on central bank divergence, euro hits five-month low](https://feedsoft.ai/events/9970-dollar-jumps-on-central-bank-divergence-euro-hits-five-month-low.md) | +1.1% | +0.5% |
| DXY | 2022-03-03 | [Euro extends recent fall; dollar gains on data, Powell comments - Business & Finance - Business Recorder](https://feedsoft.ai/events/12081-euro-extends-recent-fall-dollar-gains-on-data-powell-comments-business-and.md) | +0.7% | -0.6% |
| DXY | 2017-04-29 | [Euro jumps on European inflation data, dollar climbs vs. yen \| Amwal Al Ghad](https://feedsoft.ai/events/71691-euro-jumps-on-european-inflation-data-dollar-climbs-vs-yen-amwal-al-ghad.md) | -0.0% | -1.1% |
| DXY | 2019-08-01 | [Dollar Powered Up by Fed Powell, Broke Key Resistance Against Euro - ActionForex](https://feedsoft.ai/events/10781-dollar-powered-up-by-fed-powell-broke-key-resistance-against-euro-actionforex.md) | +1.1% | +2.1% |
| DXY | 2024-12-12 | [Dollar higher on fresh inflation data, euro lower after ECB rate cut](https://feedsoft.ai/events/27173-dollar-higher-on-fresh-inflation-data-euro-lower-after-ecb-rate-cut.md) | +0.6% | +2.4% |
| 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% |
| EURUSD | 2024-04-12 | [Dollar jumps on central bank divergence, euro hits five-month low](https://feedsoft.ai/events/9970-dollar-jumps-on-central-bank-divergence-euro-hits-five-month-low.md) | -0.6% | +0.5% |
| EURUSD | 2022-03-03 | [Euro extends recent fall; dollar gains on data, Powell comments - Business & Finance - Business Recorder](https://feedsoft.ai/events/12081-euro-extends-recent-fall-dollar-gains-on-data-powell-comments-business-and.md) | -0.3% | +0.5% |

## Sources

- cnbc.com: https://www.cnbc.com/2021/11/22/forex-markets-dollar-euro-covid-in-europe.html

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