# US dollar advances on month-end demand; focus on economic data

> The U.S. dollar rose on Wednesday on month-end buying and technical factors after recent declines had pushed it to its weakest level in a month. Traders were weighing economic data and the aftermath of Fed Chair Jerome Powell's dovish remarks.

- Date: 2024-08-28 · published 2024-08-28T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/28982-us-dollar-advances-on-month-end-demand-focus-on-economic-data
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Short-term dollar strength from month-end flows can briefly weigh on dollar-priced feed commodities. The trend still depends on the Fed's easing path, so the impact on feed prices is likely limited.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2024-06-25 | [US dollar advances after hawkish Fed comment, economic data \| Reuters](https://feedsoft.ai/events/29634-us-dollar-advances-after-hawkish-fed-comment-economic-data-reuters.md) | +0.6% | -0.3% |
| DXY | 2023-02-02 | [Oil slumps on economic data, stronger U.S. dollar](https://feedsoft.ai/events/37234-oil-slumps-on-economic-data-stronger-u-s-dollar.md) | +1.3% | +2.1% |
| DXY | 2021-02-26 | [US Dollar Index (DXY) Surges on Market Selloff, Strong Economic Data](https://feedsoft.ai/events/10600-us-dollar-index-dxy-surges-on-market-selloff-strong-economic-data.md) | +0.7% | +1.9% |
| DXY | 2024-01-30 | [Loonie Dips Amid US Dollar Strength; Eyes Fed Rate Decision, Economic Data](https://feedsoft.ai/events/32337-loonie-dips-amid-us-dollar-strength-eyes-fed-rate-decision-economic-data.md) | +0.4% | +0.1% |
| DXY | 2024-10-29 | [Dollar peaks against yen ahead of US election and economic data \| Reuters](https://feedsoft.ai/events/28079-dollar-peaks-against-yen-ahead-of-us-election-and-economic-data-reuters.md) | -0.2% | +2.1% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/currencies-hold-tight-ranges-market-awaits-more-us-rate-cues-2024-08-28/

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