# 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.

- Date: 2024-08-21 · published 2024-08-21T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/28992-dollar-drops-as-jobs-revised-lower-some-fed-officials-wanted-july-cut
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## 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.

## Read by commodity

- DXY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2024-07-31 | [Stocks rise; yields, dollar lower as Fed signals rate cut](https://feedsoft.ai/events/29141-stocks-rise-yields-dollar-lower-as-fed-signals-rate-cut.md) | -0.5% | -1.9% |
| DXY | 2023-12-13 | [Dollar drops as Fed signals coming rate cuts](https://feedsoft.ai/events/8296-dollar-drops-as-fed-signals-coming-rate-cuts.md) | -1.0% | -0.7% |
| DXY | 2022-11-04 | [Dollar Falls Sharply as Fed Officials Allow for Smaller Rate Hikes](https://feedsoft.ai/events/8198-dollar-falls-sharply-as-fed-officials-allow-for-smaller-rate-hikes.md) | -2.7% | -4.3% |
| DXY | 2025-11-28 | [US dollar set for worst week since July as Fed rate cut looms \| Reuters](https://feedsoft.ai/events/22142-us-dollar-set-for-worst-week-since-july-as-fed-rate-cut-looms-reuters.md) | -0.5% | -1.5% |
| DXY | 2024-07-31 | [Dollar falls as Fed signals likely September rate cut](https://feedsoft.ai/events/29455-dollar-falls-as-fed-signals-likely-september-rate-cut.md) | -0.5% | -1.9% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/dollar-hits-lowest-this-year-vs-euro-traders-brace-jobs-data-jackson-hole-2024-08-21/

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