# US dollar teeters, gold takes a breather as markets await Fed | The Straits Times

> The US dollar hovered just above a two-year low on July 29 and was headed for its worst month in nine years. Gold steadied near $1,960 an ounce, and investors awaited a US$1 trillion fiscal package stalled in Congress ahead of the Fed decision.

- Date: 2020-07-29 · published 2020-07-29T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/52031-us-dollar-teeters-gold-takes-a-breather-as-markets-await-fed-the-straits-times
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A weakening dollar supports dollar-priced commodities and raises export competitiveness for US goods, while the stalled fiscal package adds uncertainty to demand expectations.

## Read by commodity

- DXY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2020-03-02 | [Dollar takes a back seat as markets bet on Fed rate cuts - The HinduBusinessLine](https://feedsoft.ai/events/6185-dollar-takes-a-back-seat-as-markets-bet-on-fed-rate-cuts-the-hindubusinessline.md) | -0.8% | +4.0% |
| DXY | 2023-11-21 | [Gold marches ahead to the beat of a weaker US dollar](https://feedsoft.ai/events/33074-gold-marches-ahead-to-the-beat-of-a-weaker-us-dollar.md) | -0.6% | -0.7% |
| DXY | 2021-08-31 | [US dollar at 3-week lows as traders await tapering clues - The Business Times](https://feedsoft.ai/events/45754-us-dollar-at-3-week-lows-as-traders-await-tapering-clues-the-business-times.md) | -0.2% | +0.9% |
| DXY | 2023-10-31 | [US dollar falls as markets believe Fed is done hiking rates \| Reuters](https://feedsoft.ai/events/11457-us-dollar-falls-as-markets-believe-fed-is-done-hiking-rates-reuters.md) | -1.4% | -2.9% |
| DXY | 2017-12-13 | [Gold jumps 1% as dollar slips on Fed rate outlook - The Business Times](https://feedsoft.ai/events/67390-gold-jumps-1-as-dollar-slips-on-fed-rate-outlook-the-business-times.md) | -0.4% | -1.8% |

## Sources

- straitstimes.com: https://www.straitstimes.com/business/companies-markets/us-dollar-teeters-gold-takes-a-breather-as-markets-await-fed

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