# US dollar, stocks dip as Fed keeps taper timing close to chest

> The dollar index fell 0.24% as Fed Chair Jerome Powell said the central bank had begun discussing tapering its bond purchases but that timing would depend on incoming data. The euro rose 0.28% to $1.185 after a month-long dollar rally.

- Date: 2021-07-28 · published 2021-07-28T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/45971-us-dollar-stocks-dip-as-fed-keeps-taper-timing-close-to-chest
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

A weaker dollar tends to support dollar-denominated commodities by making them cheaper for foreign buyers, a modestly supportive backdrop for feed grains and oilseeds.

## Read by commodity

- DXY: bearish ▼
- SOY: bullish ▲
- CORN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2020-11-05 | [Dollar drops as stocks surge, Fed keeps policy unchanged](https://feedsoft.ai/events/50331-dollar-drops-as-stocks-surge-fed-keeps-policy-unchanged.md) | -0.8% | -2.9% |
| DXY | 2021-04-28 | [US Fed keeps rates unchanged as Powell says ‘not time for taper talk’; Dollar falls](https://feedsoft.ai/events/47794-us-fed-keeps-rates-unchanged-as-powell-says-not-time-for-taper-talk-dollar-falls.md) | +0.3% | -1.0% |
| DXY | 2021-11-03 | [Dollar dips after Fed confirms beginning of taper](https://feedsoft.ai/events/44248-dollar-dips-after-fed-confirms-beginning-of-taper.md) | -0.5% | +1.5% |
| DXY | 2024-07-31 | [Stocks rise; yields, dollar lower as Fed signals rate cut](https://feedsoft.ai/events/29141-stocks-rise-yields-dollar-lower-as-fed-signals-rate-cut.md) | -0.5% | -1.9% |
| DXY | 2023-12-27 | [Dollar hits 5-mth low against euro as Fed seen closer to rate cuts](https://feedsoft.ai/events/32899-dollar-hits-5-mth-low-against-euro-as-fed-seen-closer-to-rate-cuts.md) | +0.7% | +1.6% |
| CORN | 2020-10-09 | [Dollar drifts downward as investors cling to stimulus hopes \| Financial Post](https://feedsoft.ai/events/50560-dollar-drifts-downward-as-investors-cling-to-stimulus-hopes-financial-post.md) | +3.7% | +7.4% |
| CORN | 2023-11-03 | [Stocks jump, dollar and yields drop after US jobs market softens](https://feedsoft.ai/events/11458-stocks-jump-dollar-and-yields-drop-after-us-jobs-market-softens.md) | +1.0% | -1.0% |
| CORN | 2019-12-11 | [Dollar slips to 4-month low as Fed holds rates, nixes hike hopes](https://feedsoft.ai/events/55754-dollar-slips-to-4-month-low-as-fed-holds-rates-nixes-hike-hopes.md) | +5.1% | +4.1% |

## Sources

- reuters.com: https://www.reuters.com/world/china/global-markets-wrapup-5-pix-2021-07-28/

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