# Mid-Course Correction Sends Greenback Higher - Marc to Market  Marc Chandler on Global FX and Capital Markets

> The Fed's 25-basis-point cut was framed as a mid-course correction rather than the start of a larger easing cycle, and the dollar advanced against nearly all major currencies. The dollar broke through resistance at JPY109 and $1.11 per euro, while gold fell toward $1,400 and crude snapped a five-day rally.

- Date: 2019-08-01 · published 2019-08-01T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/57512-mid-course-correction-sends-greenback-higher-marc-to-market-marc-chandler-on
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A firmer dollar lowers the local-currency cost of US commodities for importers but raises it for exporters, which can reduce foreign demand for US feed grains and meal. Weaker Asian equities and manufacturing add to the demand concern.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2021-11-28 | [The Dollar Moves Back to the Fulcrum between the Funding and Higher Beta Currencies - Marc to Market  Marc Chandler on Global FX and Capital Markets](https://feedsoft.ai/events/11258-the-dollar-moves-back-to-the-fulcrum-between-the-funding-and-higher-beta.md) | -0.2% | -0.9% |
| DXY | 2020-01-19 | [The Charts: China Allows CNY to Rise Against the Dollar as the Greenback Advances Against Almost Everyone Else - Marc to Market  Marc Chandler on Global FX and Capital Markets](https://feedsoft.ai/events/7877-the-charts-china-allows-cny-to-rise-against-the-dollar-as-the-greenback.md) | +0.6% | +1.3% |
| DXY | 2020-10-18 | [Sterling and Yuan Resilience, While Rate Differentials Aid Dollar?  - Marc to Market  Marc Chandler on Global FX and Capital Markets](https://feedsoft.ai/events/50814-sterling-and-yuan-resilience-while-rate-differentials-aid-dollar-marc-to-market.md) | -0.7% | -1.7% |
| DXY | 2017-09-29 | [Dollar's Gains Pared, but Set to Snap Six Month Losing Streak Against the Euro - Marc to Market  Marc Chandler on Global FX and Capital Markets](https://feedsoft.ai/events/69152-dollar-s-gains-pared-but-set-to-snap-six-month-losing-streak-against-the-euro.md) | +0.3% | +1.7% |
| DXY | 2021-07-28 | [Markets tire of anti-greenback bet as central banks diverge - The Globe and Mail](https://feedsoft.ai/events/46294-markets-tire-of-anti-greenback-bet-as-central-banks-diverge-the-globe-and-mail.md) | -0.4% | +0.4% |

## Sources

- marctomarket.com: https://www.marctomarket.com/2019/08/mid-course-correction-sends-greenback.html

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