# Dollar Tumbles Broadly after Dovish FOMC, More Downside Ahead - ActionForex

> The dollar was broadly sold off after the Fed's dovish FOMC statement dropped its tightening bias. US equities rallied, and the Australian dollar and other commodity currencies strengthened, with EUR/USD above 1.15.

- Date: 2019-01-31 · published 2019-01-31T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/61291-dollar-tumbles-broadly-after-dovish-fomc-more-downside-ahead-actionforex
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

A softer dollar and firmer risk appetite typically support commodity prices and make dollar-priced feed ingredients more competitive abroad.

## Read by commodity

- DXY: bearish ▼
- SOY: bullish ▲
- CORN: bullish ▲
- AUDUSD: bullish ▲
- EURUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2017-07-27 | [US Dollar Falls Amid Dovish FOMC, VIX At All-Time Low - ActionForex](https://feedsoft.ai/events/70154-us-dollar-falls-amid-dovish-fomc-vix-at-all-time-low-actionforex.md) | -0.6% | -0.5% |
| DXY | 2017-11-15 | [Dollar Struggles Ahead Of Inflation Figures, Aussie Takes A Knock After Wage Data - ActionForex](https://feedsoft.ai/events/68229-dollar-struggles-ahead-of-inflation-figures-aussie-takes-a-knock-after-wage.md) | -0.5% | -0.2% |
| DXY | 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) | -0.6% | -0.5% |
| 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% |
| EURUSD | 2021-10-28 | [Euro Mildly Higher after ECB, Dollar Dips Slightly on GDP Miss - ActionForex](https://feedsoft.ai/events/44759-euro-mildly-higher-after-ecb-dollar-dips-slightly-on-gdp-miss-actionforex.md) | -0.1% | -2.6% |
| EURUSD | 2022-11-02 | [US dollar falls broadly after the Fed hints at a slower pace of rate hikes](https://feedsoft.ai/events/38845-us-dollar-falls-broadly-after-the-fed-hints-at-a-slower-pace-of-rate-hikes.md) | +2.2% | +6.4% |
| EURUSD | 2023-12-14 | [Dollar tumbles on dovish Fed, euro gains as ECB talks down rate cuts – ThePrint – ReutersFeed](https://feedsoft.ai/events/8298-dollar-tumbles-on-dovish-fed-euro-gains-as-ecb-talks-down-rate-cuts-theprint.md) | +1.5% | +1.5% |

## Sources

- actionforex.com: https://www.actionforex.com/action-insight/market-overview/169169-dollar-tumbles-broadly-after-dovish-fomc-more-downside-ahead/

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