# Recovering euro keeps dollar 'gorilla' from scuppering ECB rate outlook

> The euro held above parity with the dollar as a steadier euro zone economy supported it. Markets priced three ECB quarter-point cuts by year end, while the Fed was expected to cut only twice, leaving a 175 basis point rate premium on US rates.

- Date: 2024-05-14 · published 2024-05-14T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/30467-recovering-euro-keeps-dollar-gorilla-from-scuppering-ecb-rate-outlook
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A wide US-euro rate gap keeps the dollar firm, which tends to pressure dollar-priced commodities and can make US exports less competitive in Europe.

## Read by commodity

- DXY: bearish ▼
- EURUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2024-04-30 | [Euro-Dollar: Inflation, GDP Data Prompts Hawkish Rethink of ECB Rate Outlook](https://feedsoft.ai/events/30941-euro-dollar-inflation-gdp-data-prompts-hawkish-rethink-of-ecb-rate-outlook.md) | +0.6% | +1.5% |
| EURUSD | 2026-08-26 | [Euro: ECB tightening outlook offers support against US Dollar - BNY](https://feedsoft.ai/events/18099-euro-ecb-tightening-outlook-offers-support-against-us-dollar-bny.md) | -0.7% | -2.4% |
| EURUSD | 2017-12-14 | [Dollar nurses losses after Fed keeps outlook unchanged; ECB eyed \| Gold Eagle](https://feedsoft.ai/events/67654-dollar-nurses-losses-after-fed-keeps-outlook-unchanged-ecb-eyed-gold-eagle.md) | +1.0% | +3.1% |
| EURUSD | 2023-12-14 | [Euro-Dollar Closing On 1.10 As ECB Resists Rate Cut Bets](https://feedsoft.ai/events/8300-euro-dollar-closing-on-1-10-as-ecb-resists-rate-cut-bets.md) | +1.5% | +1.5% |
| EURUSD | 2021-10-29 | [Euro US Dollar Exchange Rate Jumps On ECB Rate Decision And US GDP](https://feedsoft.ai/events/44756-euro-us-dollar-exchange-rate-jumps-on-ecb-rate-decision-and-us-gdp.md) | -1.2% | -3.6% |
| DXY | 2024-04-30 | [Euro-Dollar: Inflation, GDP Data Prompts Hawkish Rethink of ECB Rate Outlook](https://feedsoft.ai/events/30941-euro-dollar-inflation-gdp-data-prompts-hawkish-rethink-of-ecb-rate-outlook.md) | -0.5% | -0.9% |
| DXY | 2026-08-26 | [Euro: ECB tightening outlook offers support against US Dollar - BNY](https://feedsoft.ai/events/18099-euro-ecb-tightening-outlook-offers-support-against-us-dollar-bny.md) | +0.4% | +1.6% |
| DXY | 2017-12-14 | [Dollar nurses losses after Fed keeps outlook unchanged; ECB eyed \| Gold Eagle](https://feedsoft.ai/events/67654-dollar-nurses-losses-after-fed-keeps-outlook-unchanged-ecb-eyed-gold-eagle.md) | -0.4% | -2.1% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/recovering-euro-keeps-dollar-gorilla-scuppering-ecb-rate-outlook-2024-05-14/

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