◂ Event Timeline

May 15, 2024MACROUS

Dollar swoons after data suggests rate cut in September

The dollar slumped on May 15 after US April consumer prices showed inflation trending lower in the second quarter. Flat April retail sales further boosted hopes for a Fed rate cut as early as September.

WHY IT MATTERS

Expectations of earlier Fed cuts weaken the dollar, which typically lifts dollar-denominated commodity prices and US export competitiveness.

AFFECTSUS Dollar (Broad)▼

SOURCE
reuters.comHerbert LashMay 15, 2024

Price reaction & history

US Dollar (Broad)▼bearishSO FAR1d -0.5%5d -0.4%20d +1.6%

After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.

Apr 25, 2024Dollar swoons after data suggests rate cut in September+0.1%
Aug 2, 2019Dollar weakens as September rate cut bets mount+0.4%
Jul 31, 2024Dollar falls as Fed signals likely September rate cut-0.5%
Oct 31, 2019Gold gains as dollar weakens after Fed's interest rate cut-0.1%
May 24, 2019Dollar slips as weak data boosts US rate cut bets+0.4%

Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.

US Dollar (Broad) DXY · GP ▸

——— · ·

Loading…