# Dollar steady, focus on Fed path, China, Middle East

> The dollar held near seven-week highs as investors weighed the outlook for further US rate cuts, along with Middle East tensions and China's economy. Markets priced about a 90% chance of a 25-basis-point Fed cut in November, and the euro and pound were little changed.

- Date: 2024-10-08 · published 2024-10-08T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/11044-dollar-steady-focus-on-fed-path-china-middle-east
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Expectations for Fed easing shape the dollar's direction, which in turn affects dollar-priced grain and oilseed prices. Middle East tensions could also lift energy prices and feed costs.

## Read by commodity

- DXY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2024-02-16 | [Dollar steady after producer prices push back on Fed rate cut outlook](https://feedsoft.ai/events/31574-dollar-steady-after-producer-prices-push-back-on-fed-rate-cut-outlook.md) | -0.1% | -0.7% |
| DXY | 2019-06-17 | [Forex Market: Dollar steady ahead of Fed meeting; low chances of June rate cut](https://feedsoft.ai/events/58784-forex-market-dollar-steady-ahead-of-fed-meeting-low-chances-of-june-rate-cut.md) | -0.9% | -1.1% |
| DXY | 2026-04-29 | [US Dollar Index steadies near 98.50, all eyes on Fed rate decision](https://feedsoft.ai/events/19920-us-dollar-index-steadies-near-98-50-all-eyes-on-fed-rate-decision.md) | -0.1% | +0.3% |
| DXY | 2023-11-16 | [Dollar steady as U.S. jobless claims boost Fed rate cut bets](https://feedsoft.ai/events/10103-dollar-steady-as-u-s-jobless-claims-boost-fed-rate-cut-bets.md) | -0.3% | -1.2% |
| DXY | 2020-03-26 | [Coronavirus sparks US dollar dilemma for China as Federal Reserve ramps up easing \| South China Morning Post](https://feedsoft.ai/events/54322-coronavirus-sparks-us-dollar-dilemma-for-china-as-federal-reserve-ramps-up.md) | -0.8% | -0.7% |

## Sources

- cnbc.com: https://www.cnbc.com/2024/10/08/dollar-holds-on-to-7-week-highs-as-traders-consider-us-rates-outlook.html

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