# Strong US dollar derails metals

> Metals fell as the US dollar strengthened, with Comex gold trading near $1,305 an ounce after dropping to $1,302.30. Markets expected the Fed to hold rates steady at its upcoming meeting.

- Date: 2018-05-01 · published 2018-05-01T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/64949-strong-us-dollar-derails-metals
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Dollar strength is the key driver of weakness in dollar-denominated commodities, which can pressure feed grain and protein prices at the margin.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2021-02-28 | [Metals smashed as dollar strengthens](https://feedsoft.ai/events/48548-metals-smashed-as-dollar-strengthens.md) | +0.8% | +0.8% |
| DXY | 2023-06-01 | [Why is the US dollar so strong again?](https://feedsoft.ai/events/35846-why-is-the-us-dollar-so-strong-again.md) | -0.9% | -1.2% |
| DXY | 2026-08-28 | [Pound Slips on Stronger US Dollar](https://feedsoft.ai/events/18141-pound-slips-on-stronger-us-dollar.md) | -0.2% | +1.7% |
| DXY | 2022-09-28 | [Why is the US dollar so strong, and what does it mean?](https://feedsoft.ai/events/10320-why-is-the-us-dollar-so-strong-and-what-does-it-mean.md) | -1.8% | -1.5% |
| DXY | 2022-09-15 | [Is the US Dollar Too Strong? \| Goldman Sachs](https://feedsoft.ai/events/39759-is-the-us-dollar-too-strong-goldman-sachs.md) | +1.0% | +2.6% |

## Sources

- miningnews.net: https://www.miningnews.net/capital-markets/news/1337252/strong-us-dollar-derails-metals

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