# Euro slumps, dollar index edges higher after PMI data

> The euro fell and the dollar index edged higher after weak euro zone PMI data showed business activity contracting. Markets priced roughly a 77% chance of an ECB rate cut of at least 25 basis points at the October meeting.

- Date: 2024-09-23 · published 2024-09-23T12:00:00.000Z
- Category: macro · region Europe · magnitude low
- Page: https://feedsoft.ai/events/28526-euro-slumps-dollar-index-edges-higher-after-pmi-data
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A weaker euro and firmer dollar make US commodities more expensive for euro buyers and can pressure dollar-denominated futures.

## Read by commodity

- DXY: bullish ▲
- EURUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2024-12-12 | [Dollar higher on fresh inflation data, euro lower after ECB rate cut](https://feedsoft.ai/events/27173-dollar-higher-on-fresh-inflation-data-euro-lower-after-ecb-rate-cut.md) | -0.4% | -2.6% |
| EURUSD | 2026-10-01 | [Dollar rises, euro slips after ECB rate increase](https://feedsoft.ai/events/17692-dollar-rises-euro-slips-after-ecb-rate-increase.md) | -1.4% | -1.6% |
| EURUSD | 2021-07-22 | [Euro slips; U.S. dollar inches higher in volatile trading](https://feedsoft.ai/events/46292-euro-slips-u-s-dollar-inches-higher-in-volatile-trading.md) | +0.1% | -0.8% |
| EURUSD | 2022-09-30 | [Dollar gains on euro after inflation data, sterling falls](https://feedsoft.ai/events/39798-dollar-gains-on-euro-after-inflation-data-sterling-falls.md) | +0.3% | +1.6% |
| 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% |
| DXY | 2024-06-24 | [Dollar Index (DXY) pushes higher on strong S&P PMI data](https://feedsoft.ai/events/30046-dollar-index-dxy-pushes-higher-on-strong-s-and-p-pmi-data.md) | +0.1% | -0.7% |
| DXY | 2024-12-12 | [Dollar higher on fresh inflation data, euro lower after ECB rate cut](https://feedsoft.ai/events/27173-dollar-higher-on-fresh-inflation-data-euro-lower-after-ecb-rate-cut.md) | +0.6% | +2.4% |
| DXY | 2023-07-01 | [Dollar index hits two-week high after data; yen remains soft](https://feedsoft.ai/events/35681-dollar-index-hits-two-week-high-after-data-yen-remains-soft.md) | -0.3% | -1.3% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/bitcoin-jumps-while-japan-holiday-dulls-most-currencies-2024-09-23/

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