# Dollar Index (DXY) pushes higher on strong S&P PMI data

> The US Dollar Index rose to 105.80 after strong S&P flash PMI readings, with services at 55.1 versus 53.4 expected. The stronger data reduced expectations for Fed rate cuts, and USD/JPY neared the intervention zone.

- Date: 2024-06-24 · published 2024-06-24T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/30046-dollar-index-dxy-pushes-higher-on-strong-s-and-p-pmi-data
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A firmer dollar makes US grain, oilseed and meal exports more expensive for foreign buyers, which tends to weigh on dollar-denominated feed prices. The effect here is modest.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2024-09-23 | [Euro slumps, dollar index edges higher after PMI data](https://feedsoft.ai/events/28526-euro-slumps-dollar-index-edges-higher-after-pmi-data.md) | -0.2% | +2.5% |
| DXY | 2021-02-26 | [US Dollar Index (DXY) Surges on Market Selloff, Strong Economic Data](https://feedsoft.ai/events/10600-us-dollar-index-dxy-surges-on-market-selloff-strong-economic-data.md) | +0.7% | +1.9% |
| DXY | 2017-11-01 | [Dollar rises on strong U.S. data, Fed signals \| Reuters](https://feedsoft.ai/events/68151-dollar-rises-on-strong-u-s-data-fed-signals-reuters.md) | +0.1% | -1.2% |
| DXY | 2023-02-02 | [Oil slumps on economic data, stronger U.S. dollar](https://feedsoft.ai/events/37234-oil-slumps-on-economic-data-stronger-u-s-dollar.md) | +1.3% | +2.1% |
| DXY | 2022-04-28 | [British Pound edges higher, US Dollar remains strong](https://feedsoft.ai/events/42088-british-pound-edges-higher-us-dollar-remains-strong.md) | +0.1% | -0.4% |

## Sources

- fxstreet.com: https://www.fxstreet.com/analysis/dollar-index-dxy-pushes-higher-on-strong-sp-pmi-data-202406240204

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