What is driving the US Dollar to multi-month highs against the Euro as PCE data approaches?

After 2,356 past bullish macro events, DXY moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.

• Apr 16, 2024Dollar hits 5-month high against euro; yen weakest since 1990+0.5%
• Oct 27, 2022Euro falls against the dollar after ECB rate hike, U.S. data+0.7%
• May 3, 2022Dollar approaches 20-year highs, Fed meeting in focus+0.5%
• Nov 2, 2017Pound sterling (GBP) plunges against the dollar (USD) and euro (EUR) as Bank hikes interest rates-0.1%
• Jun 1, 2023Why is the US dollar so strong again?-0.9%

After 533 past bearish macro events, EURUSD moved a median -0.3% over 5 sessions (33% higher; middle half -1.2% to +0.2%), and -0.5% over 20.

• Apr 16, 2024Dollar hits 5-month high against euro; yen weakest since 1990+0.1%
• Oct 27, 2022Euro falls against the dollar after ECB rate hike, U.S. data-1.9%
• Nov 2, 2017Pound sterling (GBP) plunges against the dollar (USD) and euro (EUR) as Bank hikes interest rates-0.2%
• Dec 15, 2016Euro tumbles to near 14-year low against US dollar-2.2%
• Jul 5, 2022Euro Hits 20-Year Low Against Dollar as Markets Slide - The New York Times-3.1%