# US dollar tumbles to six-week low after soft jobs data

> The US dollar fell to a six-week low on Friday after data showed US job growth came in below expectations in October. The weak report reinforced expectations that the Federal Reserve will hold interest rates steady at its December meeting.

- Date: 2023-11-03 · published 2023-11-03T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/11456-us-dollar-tumbles-to-six-week-low-after-soft-jobs-data
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

A weaker dollar and lower rate expectations typically support dollar-priced commodities and can lift feed commodity prices, while softer US growth may trim demand expectations.

## Read by commodity

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

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| DXY | 2023-11-03 | 1 | -0.9% | -3.2 | Soft October payrolls on 2023-11-03 reduced expectations of further Fed tightening, driving the dollar to a six-week low and directly explaining the one-day drop. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-08-30 | [Dollar falls to two-week low as economic data softens](https://feedsoft.ai/events/34779-dollar-falls-to-two-week-low-as-economic-data-softens.md) | +1.3% | +2.3% |
| DXY | 2026-07-30 | [Australian Dollar rallies despite softer CPI as US Dollar tumbles after Fed, weaker data](https://feedsoft.ai/events/18598-australian-dollar-rallies-despite-softer-cpi-as-us-dollar-tumbles-after-fed.md) | -1.2% | -1.9% |
| DXY | 2019-09-30 | [Dollar falters after soft US manufacturing data](https://feedsoft.ai/events/57297-dollar-falters-after-soft-us-manufacturing-data.md) | -0.2% | -1.4% |
| DXY | 2025-11-06 | [Dollar weakens amid soft labor US data \| Reuters](https://feedsoft.ai/events/22157-dollar-weakens-amid-soft-labor-us-data-reuters.md) | -0.9% | -1.0% |
| DXY | 2025-05-29 | [EUR/USD rebounds sharply as soft US jobs, GDP data sink US Dollar](https://feedsoft.ai/events/24905-eur-usd-rebounds-sharply-as-soft-us-jobs-gdp-data-sink-us-dollar.md) | -0.8% | -1.9% |
| CORN | 2023-11-03 | [Stocks jump, dollar and yields drop after US jobs market softens](https://feedsoft.ai/events/11458-stocks-jump-dollar-and-yields-drop-after-us-jobs-market-softens.md) | +1.0% | -1.0% |
| CORN | 2024-08-02 | [Dollar hits four-month low as weak US jobs data boosts rate cut bets](https://feedsoft.ai/events/9285-dollar-hits-four-month-low-as-weak-us-jobs-data-boosts-rate-cut-bets.md) | -0.6% | -2.2% |
| CORN | 2023-03-13 | [Dollar slides as Fed rate hike outlook tumbles after SVB collapse](https://feedsoft.ai/events/37051-dollar-slides-as-fed-rate-hike-outlook-tumbles-after-svb-collapse.md) | +0.8% | +0.8% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/dollar-eases-traders-bet-fed-done-with-rate-hikes-2023-11-03/

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