# Dollar Down But Not Out after Fed, Oil Lifted Canadian, Iron Ore Boosted Australian - ActionForex

> The dollar eased after the Fed kept rates at 2.25-2.50% and adopted a dovish tone, dropping its prior tightening bias. The AUD and CAD rallied mainly on higher iron ore and oil prices, while sterling was weakest on Brexit uncertainty.

- Date: 2019-02-02 · published 2019-02-02T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/60507-dollar-down-but-not-out-after-fed-oil-lifted-canadian-iron-ore-boosted
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A softer dollar and firmer oil prices support commodity prices, while higher oil lifts biofuel feedstock economics.

## Read by commodity

- DXY: bearish ▼
- WTI: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-12-01 | [Australian Dollar Flies after Powell Speech - ActionForex](https://feedsoft.ai/events/38489-australian-dollar-flies-after-powell-speech-actionforex.md) | -0.6% | -1.5% |
| DXY | 2021-07-29 | [Dollar Falls Broadly after Fed, Q2 GDP Next - ActionForex](https://feedsoft.ai/events/46247-dollar-falls-broadly-after-fed-q2-gdp-next-actionforex.md) | -0.3% | +0.4% |
| DXY | 2020-08-20 | [Australian Dollar Rebounds on Iron Ore and Gold Rush](https://feedsoft.ai/events/51894-australian-dollar-rebounds-on-iron-ore-and-gold-rush.md) | +0.0% | -1.0% |
| DXY | 2024-08-20 | [RBA interest rates: Australian dollar rally brushes off iron ore price crash](https://feedsoft.ai/events/29062-rba-interest-rates-australian-dollar-rally-brushes-off-iron-ore-price-crash.md) | -0.2% | -0.2% |
| DXY | 2020-08-30 | [Dollar Dived on New Fed Strategy, Aussie Shone ahead of a Key Week - ActionForex](https://feedsoft.ai/events/51895-dollar-dived-on-new-fed-strategy-aussie-shone-ahead-of-a-key-week-actionforex.md) | +0.1% | +1.4% |
| WTI | 2017-06-30 | [Canadian Dollar Exchange Rates Boosted As GDP Comes In On Forecast And Oil Boosts The CAD](https://feedsoft.ai/events/70739-canadian-dollar-exchange-rates-boosted-as-gdp-comes-in-on-forecast-and-oil.md) | -1.5% | +10.7% |
| WTI | 2021-08-18 | [Canadian dollar rallies after hotter-than-expected inflation data](https://feedsoft.ai/events/45794-canadian-dollar-rallies-after-hotter-than-expected-inflation-data.md) | +1.5% | +9.1% |
| WTI | 2017-07-27 | [FOMC Deflates Dollar Inflates Oil And Gold - ActionForex](https://feedsoft.ai/events/69896-fomc-deflates-dollar-inflates-oil-and-gold-actionforex.md) | +2.0% | -0.4% |

## Sources

- actionforex.com: https://www.actionforex.com/action-insight/market-overview/weekly-report/169887-dollar-down-but-not-out-after-fed-oil-lifted-canadian-iron-ore-boosted-australian/

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