# US dollar buoyed by retail sales data, euro falls as more cuts underway

> The dollar rose on strong US retail sales data while the euro fell as more central bank rate cuts were expected. Traders priced a high probability of a 25 basis point Fed cut and a further cut by the ECB.

- Date: 2024-10-17 · published 2024-10-17T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/28050-us-dollar-buoyed-by-retail-sales-data-euro-falls-as-more-cuts-underway
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

Rate-cut expectations diverging between the Fed and other central banks support the dollar, which tends to pressure US commodity export competitiveness.

## Read by commodity

- DXY: bullish ▲
- EURUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2020-09-02 | [Dollar buoyed by upbeat U.S. economic data; Aussie falls](https://feedsoft.ai/events/51362-dollar-buoyed-by-upbeat-u-s-economic-data-aussie-falls.md) | +0.5% | +1.2% |
| DXY | 2023-09-14 | [EUR/USD: ECB Hikes and euro falls as stagflation risks grow; Dollar strength extends after US retail sales data \| MarketPulse by OANDA Group](https://feedsoft.ai/events/34317-eur-usd-ecb-hikes-and-euro-falls-as-stagflation-risks-grow-dollar-strength.md) | -0.1% | +1.8% |
| DXY | 2024-09-23 | [US Dollar Forecast: EUR/USD Falls as Weak Eurozone Data Fuels ECB Rate Cut Bets \| FXEmpire](https://feedsoft.ai/events/28531-us-dollar-forecast-eur-usd-falls-as-weak-eurozone-data-fuels-ecb-rate-cut-bets.md) | -0.2% | +2.5% |
| DXY | 2024-08-30 | [US dollar rises broadly as inflation data underpins smaller Fed cut](https://feedsoft.ai/events/28980-us-dollar-rises-broadly-as-inflation-data-underpins-smaller-fed-cut.md) | +0.2% | -0.9% |
| DXY | 2024-07-18 | [Euro falls after ECB holds rates, dollar climbs after data](https://feedsoft.ai/events/29485-euro-falls-after-ecb-holds-rates-dollar-climbs-after-data.md) | +0.8% | -0.1% |
| EURUSD | 2023-09-14 | [EUR/USD: ECB Hikes and euro falls as stagflation risks grow; Dollar strength extends after US retail sales data \| MarketPulse by OANDA Group](https://feedsoft.ai/events/34317-eur-usd-ecb-hikes-and-euro-falls-as-stagflation-risks-grow-dollar-strength.md) | -0.2% | -1.7% |
| EURUSD | 2024-09-23 | [US Dollar Forecast: EUR/USD Falls as Weak Eurozone Data Fuels ECB Rate Cut Bets \| FXEmpire](https://feedsoft.ai/events/28531-us-dollar-forecast-eur-usd-falls-as-weak-eurozone-data-fuels-ecb-rate-cut-bets.md) | 0.0% | -3.0% |
| EURUSD | 2024-07-18 | [Euro falls after ECB holds rates, dollar climbs after data](https://feedsoft.ai/events/29485-euro-falls-after-ecb-holds-rates-dollar-climbs-after-data.md) | -0.7% | +0.8% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/dollar-hovers-near-11-week-high-eyes-china-property-briefing-2024-10-17/

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