◂ Event Timeline

Apr 30, 2020MACROUS

Gold rebounds on Fed's rate decision, ECB stimulus hopes

Spot gold rose 0.4% to $1,717.27 per ounce after the Federal Reserve kept interest rates near zero and vowed to use its full range of tools. Traders also cited hopes of fresh European Central Bank stimulus and a weaker dollar.

WHY IT MATTERS

Near-zero real rates and a softer dollar make dollar-priced commodities cheaper for foreign buyers, which gives modest support to the broader commodity complex. The effect on feed grains and meals is indirect.

AFFECTSUS Dollar (Broad)▼

SOURCE
financialpost.comReutersApr 30, 2020

Price reaction & history

US Dollar (Broad)▼bearishSO FAR1d -0.4%5d +0.7%20d -1.4%

After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.

Jul 29, 2026ING Says Dollar to Take Cue from Oil Prices If Fed Holds Rate | Financial Post-0.9%
Oct 9, 2020Dollar drifts downward as investors cling to stimulus hopes | Financial Post-0.3%
Feb 25, 2020U.S. dollar falls as expectations of a Fed rate cut rise | Financial Post-0.5%
Mar 24, 2020Dollar falls after Fed QE, on fiscal stimulus hopes-2.3%
Oct 28, 2021Dollar falls on euro strength after ECB meeting as rates move | Financial Post+0.6%

Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.

US Dollar (Broad) DXY · GP ▸

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