◂ Event Timeline

Aug 21, 2024MACROUS

Dollar drops as jobs revised lower, some Fed officials wanted July cut

The dollar dropped after US job gains for July were revised lower and the unemployment rate rose unexpectedly. Some Fed officials had reportedly wanted a rate cut in July, and traders priced in larger cuts on recession concerns.

WHY IT MATTERS

Weak labour data increases the chance of faster Fed easing, which pressures the dollar and can lift dollar-priced commodities. Recession fears can also weigh on demand expectations for feed and livestock.

AFFECTSUS Dollar (Broad)▼

SOURCE
reuters.comKaren BrettellAug 21, 2024

Price reaction & history

US Dollar (Broad)▼bearishSO FAR1d +0.1%5d +0.1%20d -0.2%

After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.

Jul 31, 2024Stocks rise; yields, dollar lower as Fed signals rate cut-0.5%
Dec 13, 2023Dollar drops as Fed signals coming rate cuts-1.0%
Nov 4, 2022Dollar Falls Sharply as Fed Officials Allow for Smaller Rate Hikes-2.7%
Nov 28, 2025US dollar set for worst week since July as Fed rate cut looms | Reuters-0.5%
Jul 31, 2024Dollar falls as Fed signals likely September rate cut-0.5%

Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.

US Dollar (Broad) DXY · GP ▸

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