# US Dollar Forecast: EUR/USD Falls as Weak Eurozone Data Fuels ECB Rate Cut Bets | FXEmpire

> EUR/USD fell as weak euro zone business activity data fueled expectations of further ECB rate cuts this year. The dollar index rose, reaching 101.229 before retreating.

- Date: 2024-09-23 · published 2024-09-23T12:00:00.000Z
- Category: macro · region Europe · magnitude low
- Page: https://feedsoft.ai/events/28531-us-dollar-forecast-eur-usd-falls-as-weak-eurozone-data-fuels-ecb-rate-cut-bets
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A stronger dollar raises the cost of US-priced commodities for euro buyers and can weigh on dollar-denominated grain and oilseed futures.

## Read by commodity

- DXY: bullish ▲
- EURUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2024-10-17 | [US dollar buoyed by retail sales data, euro falls as more cuts underway](https://feedsoft.ai/events/28050-us-dollar-buoyed-by-retail-sales-data-euro-falls-as-more-cuts-underway.md) | -0.9% | -2.9% |
| EURUSD | 2022-10-27 | [Euro falls against the dollar after ECB rate hike, U.S. data](https://feedsoft.ai/events/39360-euro-falls-against-the-dollar-after-ecb-rate-hike-u-s-data.md) | -1.9% | +3.3% |
| 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% |
| EURUSD | 2016-12-28 | [Euro To Dollar Forecast: Rally In EUR USD Exchange Rate Falters And 2017 Looks Bearish](https://feedsoft.ai/events/73670-euro-to-dollar-forecast-rally-in-eur-usd-exchange-rate-falters-and-2017-looks.md) | +0.2% | +2.2% |
| EURUSD | 2019-07-26 | [The Euro-Dollar Rate is In Line for Forecast Downgrades as ECB Eyes Stimulus](https://feedsoft.ai/events/58314-the-euro-dollar-rate-is-in-line-for-forecast-downgrades-as-ecb-eyes-stimulus.md) | -0.8% | -0.6% |
| DXY | 2025-07-31 | [US Dollar Forecast: Bullish Momentum Builds in DXY as Powell Resists Rate Cuts \| FXEmpire](https://feedsoft.ai/events/23955-us-dollar-forecast-bullish-momentum-builds-in-dxy-as-powell-resists-rate-cuts.md) | -0.7% | -0.6% |
| DXY | 2026-06-01 | [Canadian Dollar falls despite solid jobs data as US NFP beat forecasts](https://feedsoft.ai/events/19480-canadian-dollar-falls-despite-solid-jobs-data-as-us-nfp-beat-forecasts.md) | +1.0% | +1.7% |
| DXY | 2024-10-17 | [US dollar buoyed by retail sales data, euro falls as more cuts underway](https://feedsoft.ai/events/28050-us-dollar-buoyed-by-retail-sales-data-euro-falls-as-more-cuts-underway.md) | +0.6% | +2.5% |

## Sources

- fxempire.com: https://www.fxempire.com/forecasts/article/us-dollar-forecast-eur-usd-falls-as-weak-eurozone-data-fuels-ecb-rate-cut-bets-1463112

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