# Forex markets: Dollar, U.S. Federal Reserve in focus

> The dollar was on course for its biggest monthly drop in a decade, falling nearly 5% in July as coronavirus cases surged in US states. The euro touched $1.19, its strongest since May 2018, after Trump raised the possibility of delaying the November election and GDP data showed a 32.9% annualised contraction in Q2.

- Date: 2020-07-30 · published 2020-07-30T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/52297-forex-markets-dollar-u-s-federal-reserve-in-focus
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

A weaker dollar tends to lift dollar-denominated commodity prices and makes US feed exports more competitive abroad, while the currency move also affects importers' buying costs.

## Read by commodity

- DXY: bearish ▼
- EURUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2019-01-30 | [U.S. Dollar Dives after Federal Reserve Moves to the Sidelines](https://feedsoft.ai/events/61290-u-s-dollar-dives-after-federal-reserve-moves-to-the-sidelines.md) | +0.0% | +0.2% |
| DXY | 2024-08-26 | [Interest rates: US dollar sinks as traders position for rate cuts by the Federal Reserve](https://feedsoft.ai/events/28691-interest-rates-us-dollar-sinks-as-traders-position-for-rate-cuts-by-the-federal.md) | +0.7% | -0.0% |
| DXY | 2019-06-20 | [Forex Market: Dovish Fed spurs dollar's biggest two-day drop in a year](https://feedsoft.ai/events/7434-forex-market-dovish-fed-spurs-dollar-s-biggest-two-day-drop-in-a-year.md) | -1.1% | -0.8% |
| DXY | 2020-04-30 | [Pound-Dollar Rate Aims for the Stars after Federal Reserve Swerves Onto Main Street](https://feedsoft.ai/events/53873-pound-dollar-rate-aims-for-the-stars-after-federal-reserve-swerves-onto-main.md) | +0.7% | -1.4% |
| DXY | 2019-06-20 | [Dollar falls to 2-week low after Federal Reserve meeting](https://feedsoft.ai/events/7438-dollar-falls-to-2-week-low-after-federal-reserve-meeting.md) | -1.1% | -0.8% |
| EURUSD | 2024-08-02 | [Euro-Dollar Surges as Odds of Emergency Federal Reserve Rate Cut Grows](https://feedsoft.ai/events/9284-euro-dollar-surges-as-odds-of-emergency-federal-reserve-rate-cut-grows.md) | +1.2% | +2.8% |
| EURUSD | 2020-02-28 | [Forex: US Dollar's Appeal Fades As Rate Cut Looms](https://feedsoft.ai/events/54802-forex-us-dollar-s-appeal-fades-as-rate-cut-looms.md) | +2.0% | +0.4% |
| EURUSD | 2026-05-29 | [Euro-Dollar: Why Markets Think The ECB Will Hike Before The Fed](https://feedsoft.ai/events/19473-euro-dollar-why-markets-think-the-ecb-will-hike-before-the-fed.md) | -0.2% | -2.1% |

## Sources

- cnbc.com: https://www.cnbc.com/2020/07/30/forex-markets-dollar-us-federal-reserve-in-focus.html

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