# Fade the Dollar Gains | Nasdaq

> The S&P 500 rose 1.6% to extend a five-session winning streak, but risk assets saw profit-taking in Asia and Europe. The dollar firmed against major currencies after falling sharply against the yuan the previous day, and WTI crude was testing support near $40 a barrel.

- Date: 2020-07-07 · published 2020-07-07T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/9737-fade-the-dollar-gains-nasdaq
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A firmer dollar and weaker crude both reduce commodity price support, and lower oil lowers biofuel-linked demand for soybean oil and corn. The overall effect is a modest bearish tilt for feed-related markets.

## Read by commodity

- DXY: bullish ▲
- WTI: bearish ▼

## Sources

- nasdaq.com: https://www.nasdaq.com/articles/fade-the-dollar-gains-2020-07-07

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