# Charts Suggest Scope for One More Push Lower for the Dollar before a Correction - Marc to Market  Marc Chandler on Global FX and Capital Markets

> Marc Chandler notes the US dollar fell heavily in the week ending November 1, led by risk-sensitive currencies, and the Fed signaled a pause after its third rate cut. He sees scope for one more dollar decline before a correction, with support near 97.00-97.15 on the dollar index.

- Date: 2019-11-03 · published 2019-11-03T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/56265-charts-suggest-scope-for-one-more-push-lower-for-the-dollar-before-a-correction
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A softer dollar and emerging market currency strength would support dollar-priced feed commodity demand from importers, though the impact is gradual and mostly indirect.

## Read by commodity

- DXY: bearish ▼
- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2017-04-15 | [Dollar Snaps Two-Week Advance, While Japanese Investors Resume Repatriating Funds - Marc to Market  Marc Chandler on Global FX and Capital Markets](https://feedsoft.ai/events/71687-dollar-snaps-two-week-advance-while-japanese-investors-resume-repatriating.md) | +0.2% | +0.2% |
| DXY | 2026-04-08 | [The dollar is losing its war premium, and emerging markets are loving it: Chart of the Day](https://feedsoft.ai/events/11163-the-dollar-is-losing-its-war-premium-and-emerging-markets-are-loving-it-chart.md) | -1.6% | -1.4% |
| DXY | 2021-02-18 | [Current US dollar rally is a bear market correction – ING — Octa](https://feedsoft.ai/events/48820-current-us-dollar-rally-is-a-bear-market-correction-ing-octa.md) | -0.3% | +1.0% |
| DXY | 2020-06-10 | [Dollar slumps to three-month lows on Fed easing speculation - Markets - Business Recorder](https://feedsoft.ai/events/52808-dollar-slumps-to-three-month-lows-on-fed-easing-speculation-markets-business.md) | +0.8% | +0.8% |
| DXY | 2021-08-31 | [Dollar falls to more than 3-week low with payrolls eyed - Markets - Business Recorder](https://feedsoft.ai/events/45752-dollar-falls-to-more-than-3-week-low-with-payrolls-eyed-markets-business.md) | -0.2% | +0.9% |
| USDCNY | 2017-06-27 | [Euro Surges on Draghi, While Yuan Rises on Suspected PBOC Action - Marc to Market  Marc Chandler on Global FX and Capital Markets](https://feedsoft.ai/events/11184-euro-surges-on-draghi-while-yuan-rises-on-suspected-pboc-action-marc-to-market.md) | -0.6% | -1.3% |
| USDCNY | 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) | -0.9% | +1.5% |
| USDCNY | 2019-07-31 | [Opinion \| Why China may be ready for a strong yuan, and the US could follow up with a weak dollar policy \| South China Morning Post](https://feedsoft.ai/events/58328-opinion-why-china-may-be-ready-for-a-strong-yuan-and-the-us-could-follow-up.md) | +2.0% | +4.0% |

## Sources

- marctomarket.com: https://www.marctomarket.com/2019/11/charts-suggest-scope-for-one-more-push.html

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