# US dollar sinks to three-week low on signs of slowing economy

> The dollar fell to a three-week low on June 3 after weaker-than-expected US manufacturing and construction spending data. The readings suggested the economy is gradually slowing and that the Fed is on track to begin cutting rates.

- Date: 2024-06-03 · published 2024-06-03T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/29966-us-dollar-sinks-to-three-week-low-on-signs-of-slowing-economy
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

A softer dollar and expectations of Fed easing typically support dollar-priced commodities and make US exports more competitive. Slowing US demand could offset some of that support for industrial-linked commodities.

## Read by commodity

- DXY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-08-30 | [Dollar falls to two-week low as economic data softens](https://feedsoft.ai/events/34779-dollar-falls-to-two-week-low-as-economic-data-softens.md) | +1.3% | +2.3% |
| DXY | 2023-07-10 | [US dollar drops to three-week low as Fed rate hikes nearly done](https://feedsoft.ai/events/9980-us-dollar-drops-to-three-week-low-as-fed-rate-hikes-nearly-done.md) | -1.7% | -0.2% |
| DXY | 2017-06-24 | [US dollar posts steepest loss in three weeks on US rate-hike doubts - Times of News](https://feedsoft.ai/events/70704-us-dollar-posts-steepest-loss-in-three-weeks-on-us-rate-hike-doubts-times-of.md) | -0.8% | -2.4% |
| DXY | 2023-11-03 | [US dollar tumbles to six-week low after soft jobs data](https://feedsoft.ai/events/11456-us-dollar-tumbles-to-six-week-low-after-soft-jobs-data.md) | -0.6% | -2.0% |
| DXY | 2022-10-26 | [US dollar drops to three-week low as traders weigh a Fed pivot - Moneyweb](https://feedsoft.ai/events/39327-us-dollar-drops-to-three-week-low-as-traders-weigh-a-fed-pivot-moneyweb.md) | +0.0% | -2.8% |
| EURUSD | 2016-06-24 | [Euro sinks to three-month low vs. dollar](https://feedsoft.ai/events/6958-euro-sinks-to-three-month-low-vs-dollar.md) | -3.0% | -3.6% |
| EURUSD | 2023-08-30 | [Dollar falls to two-week low as economic data softens](https://feedsoft.ai/events/34779-dollar-falls-to-two-week-low-as-economic-data-softens.md) | -1.3% | -3.1% |
| EURUSD | 2024-04-18 | [How the strong U.S. dollar is rippling through the world economy](https://feedsoft.ai/events/12559-how-the-strong-u-s-dollar-is-rippling-through-the-world-economy.md) | +0.4% | +2.0% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/currencies-tread-cautiously-after-us-inflation-report-focus-ecb-2024-06-03/

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