# USD/MXN Falls On Dovish Fed and U.S. GDP Data Miss | Forex trading, free forex education | Forex.ca

> The Federal Reserve kept rates and its asset purchase program unchanged, signaling it was still some way from withdrawing accommodation. Weaker-than-expected U.S. GDP data added to dollar weakness, and USD/MXN fell 0.3% to 19.85 at the New York close.

- Date: 2021-07-29 · published 2021-07-29T12:00:00.000Z
- Category: macro · region Mexico · magnitude low
- Page: https://feedsoft.ai/events/46278-usd-mxn-falls-on-dovish-fed-and-u-s-gdp-data-miss-forex-trading-free-forex
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A weaker dollar and firmer peso lower the cost of dollar-priced feed imports into Mexico, a major buyer of US corn and soymeal. Currency moves like this are a minor offset to grain price direction.

## Read by commodity

- DXY: bearish ▼
- USDMXN: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-01-31 | [Euro Jumps Ahead of EU GDP and German CPI as US Dollar Pauses. Where to for EUR/USD? \| Forex trading, free forex education \| Forex.ca](https://feedsoft.ai/events/43342-euro-jumps-ahead-of-eu-gdp-and-german-cpi-as-us-dollar-pauses-where-to-for-eur.md) | -0.8% | -0.7% |
| DXY | 2021-07-27 | [USD/JPY Drops on Haven Flows as Traders Brace for FOMC \| Forex trading, free forex education \| Forex.ca](https://feedsoft.ai/events/46302-usd-jpy-drops-on-haven-flows-as-traders-brace-for-fomc-forex-trading-free-forex.md) | -0.5% | +0.6% |
| DXY | 2021-08-30 | [US Dollar Weakens as Dovish Fed Lifts Stocks, Bonds, Commodities and Other Currencies. Where To From Here? \| Forex trading, free forex education \| Forex.ca](https://feedsoft.ai/events/45482-us-dollar-weakens-as-dovish-fed-lifts-stocks-bonds-commodities-and-other.md) | -0.7% | +0.4% |
| DXY | 2022-05-23 | [EUR/USD Soars as Lagarde Talks Up Hikes, Says ECB Will Exit Negative Rates in Q3 \| Forex trading, free forex education \| Forex.ca](https://feedsoft.ai/events/12692-eur-usd-soars-as-lagarde-talks-up-hikes-says-ecb-will-exit-negative-rates-in-q3.md) | -0.9% | +1.1% |
| DXY | 2026-07-31 | [Dollar falls over 1% for July as U.S. data, Fed paint a muddy picture on inflation By Investing.com](https://feedsoft.ai/events/8420-dollar-falls-over-1-for-july-as-u-s-data-fed-paint-a-muddy-picture-on-inflation.md) | -0.1% | -1.1% |

## Sources

- forex.ca: https://www.forex.ca/usd-mxn-falls-on-dovish-fed-and-u-s-gdp-data-miss/

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