# FOMC Dollar rises gold extends fall after Fed policy statement

> The Fed kept its policy rate unchanged at 0.75-1.00% in its May meeting, with a unanimous vote, and maintained its balance sheet policy. The statement retained hawkish undertones, keeping the outlook for further 2017 rate hikes in play, and the dollar rose while gold fell.

- Date: 2017-05-03 · published 2017-05-03T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/70920-fomc-dollar-rises-gold-extends-fall-after-fed-policy-statement
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

A firmer dollar and expectations of more Fed hikes weigh on dollar-priced commodities and strengthen the USD against emerging-market currencies, which can lower US export competitiveness for grains and meal.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2024-11-13 | [Gold extends fall as dollar, Treasury yields rise](https://feedsoft.ai/events/27333-gold-extends-fall-as-dollar-treasury-yields-rise.md) | -0.3% | +0.1% |
| DXY | 2022-01-26 | [Dollar rises to five-week high after Fed policy decision \| Reuters](https://feedsoft.ai/events/12221-dollar-rises-to-five-week-high-after-fed-policy-decision-reuters.md) | +0.2% | -0.4% |
| DXY | 2025-01-29 | [Gold dips as dollar, yields climb after Fed stands pat on rates \| Reuters](https://feedsoft.ai/events/26412-gold-dips-as-dollar-yields-climb-after-fed-stands-pat-on-rates-reuters.md) | -0.1% | -0.8% |
| DXY | 2022-06-29 | [Euro dives, dollar rises after Fed's Powell reaffirms hawkish stance](https://feedsoft.ai/events/41144-euro-dives-dollar-rises-after-fed-s-powell-reaffirms-hawkish-stance.md) | +2.0% | +1.8% |
| DXY | 2023-07-27 | [Global equities fall, dollar rises after strong U.S. data, rate hikes](https://feedsoft.ai/events/34961-global-equities-fall-dollar-rises-after-strong-u-s-data-rate-hikes.md) | +1.2% | +1.9% |
| SOY | 2022-06-29 | [Euro dives, dollar rises after Fed's Powell reaffirms hawkish stance](https://feedsoft.ai/events/41144-euro-dives-dollar-rises-after-fed-s-powell-reaffirms-hawkish-stance.md) | -5.0% | -5.1% |
| SOY | 2016-12-14 | [U.S. bond yields, dollar gain, stocks fall after Fed rate hike](https://feedsoft.ai/events/73367-u-s-bond-yields-dollar-gain-stocks-fall-after-fed-rate-hike.md) | -2.2% | +0.4% |
| SOY | 2024-04-18 | [US dollar gains after strong data, Fed comments on rate cuts](https://feedsoft.ai/events/12555-us-dollar-gains-after-strong-data-fed-comments-on-rate-cuts.md) | +1.4% | +5.6% |

## Sources

- forex.com: https://www.forex.com/en/news-and-analysis/fomc-dollar-rises-gold-extends-fall-after-fed-policy-statement/

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