# DXY: Weak US Dollar on FOMC – DBS — Octa

> The DXY index traded in a tight 104.1-104.6 range last week amid conflicting currency themes, according to DBS. Markets priced over a 100% chance of a September Fed cut, and the Fed was expected to keep the door open without endorsing that bet. Yen carry-trade unwinding and tech sell-offs also influenced flows.

- Date: 2024-07-29 · published 2024-07-29T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/29460-dxy-weak-us-dollar-on-fomc-dbs-octa
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Expectations of Fed easing and a steady dollar shape the cost of dollar-denominated commodities and can influence export demand. Any shift in dollar direction feeds into grain and oilseed price competitiveness.

## Read by commodity

- DXY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2017-01-31 | [Potential US Dollar Reactions to FOMC Decision](https://feedsoft.ai/events/73151-potential-us-dollar-reactions-to-fomc-decision.md) | -0.6% | -0.6% |
| DXY | 2024-01-31 | [Dollar Flat Ahead of FOMC Decision, US Payrolls Report](https://feedsoft.ai/events/32401-dollar-flat-ahead-of-fomc-decision-us-payrolls-report.md) | +0.3% | +0.4% |
| DXY | 2017-06-26 | [US dollar: will struggle to make much headway - Westpac — Octa](https://feedsoft.ai/events/70709-us-dollar-will-struggle-to-make-much-headway-westpac-octa.md) | -0.8% | -2.4% |
| DXY | 2021-05-12 | [Dollar bears on wrong track - OMFIF](https://feedsoft.ai/events/47287-dollar-bears-on-wrong-track-omfif.md) | -0.1% | -0.3% |
| DXY | 2021-06-22 | [We do not see a case for sustained Dollar appreciation – Goldman Sachs — Octa](https://feedsoft.ai/events/46775-we-do-not-see-a-case-for-sustained-dollar-appreciation-goldman-sachs-octa.md) | -0.7% | +0.8% |

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/1109999/

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