# EUR/USD rises to 1.0830 as Eurozone Inflation accelerates, Fed policy eyed — Octa

> EUR/USD rose to about 1.0830 on July 31, 2024, after preliminary eurozone HICP showed headline inflation accelerating to 2.6%. The US dollar index slid toward 104.00 ahead of the Fed decision.

- Date: 2024-07-31 · published 2024-07-31T12:00:00.000Z
- Category: macro · region Europe · magnitude low
- Page: https://feedsoft.ai/events/29486-eur-usd-rises-to-1-0830-as-eurozone-inflation-accelerates-fed-policy-eyed-octa
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

A weaker dollar ahead of the Fed decision lowers the dollar cost of dollar-priced feed ingredients for euro buyers and can support US commodity prices.

## Read by commodity

- DXY: bearish ▼
- EURUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2024-07-29 | [EUR/USD extends upside above 1.0850, eyes on Eurozone GDP, Fed rate decision — Octa](https://feedsoft.ai/events/29487-eur-usd-extends-upside-above-1-0850-eyes-on-eurozone-gdp-fed-rate-decision-octa.md) | -0.2% | -1.8% |
| DXY | 2024-05-31 | [Eurozone inflation accelerates in May: Are ECB rate cuts in doubt? \| Euronews](https://feedsoft.ai/events/30466-eurozone-inflation-accelerates-in-may-are-ecb-rate-cuts-in-doubt-euronews.md) | +0.3% | +1.8% |
| DXY | 2017-09-07 | [ECB cites inflation-dampening euro rate as policy factor](https://feedsoft.ai/events/69161-ecb-cites-inflation-dampening-euro-rate-as-policy-factor.md) | +0.2% | +1.6% |
| DXY | 2023-06-30 | [AUD/USD rises amid easing US inflation, stays firm around 0.6650s — Octa](https://feedsoft.ai/events/35758-aud-usd-rises-amid-easing-us-inflation-stays-firm-around-0-6650s-octa.md) | -0.4% | -1.5% |
| DXY | 2025-12-18 | [EUR/USD rebounds as ECB holds rates and US inflation cools](https://feedsoft.ai/events/21719-eur-usd-rebounds-as-ecb-holds-rates-and-us-inflation-cools.md) | -0.6% | -0.1% |
| EURUSD | 2024-07-29 | [EUR/USD extends upside above 1.0850, eyes on Eurozone GDP, Fed rate decision — Octa](https://feedsoft.ai/events/29487-eur-usd-extends-upside-above-1-0850-eyes-on-eurozone-gdp-fed-rate-decision-octa.md) | +0.5% | +2.9% |
| EURUSD | 2024-05-31 | [Eurozone inflation accelerates in May: Are ECB rate cuts in doubt? \| Euronews](https://feedsoft.ai/events/30466-eurozone-inflation-accelerates-in-may-are-ecb-rate-cuts-in-doubt-euronews.md) | +0.4% | -1.2% |
| EURUSD | 2017-09-07 | [ECB cites inflation-dampening euro rate as policy factor](https://feedsoft.ai/events/69161-ecb-cites-inflation-dampening-euro-rate-as-policy-factor.md) | -0.4% | -1.5% |

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/1110437/

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