# EUR/USD: Euro May Turn Lower vs. Dollar on Eurozone CPI Data | tastylive

> The euro gained against the dollar over six weeks as soft US data shifted rate expectations, but it has since traded in a 1.08 to 1.09 range. Markets price 69 basis points of ECB cuts this year versus 24 basis points for the Fed, and soft eurozone CPI may pressure the euro again.

- Date: 2024-05-29 · published 2024-05-29T12:00:00.000Z
- Category: macro · region Eurozone · magnitude low
- Page: https://feedsoft.ai/events/30471-eur-usd-euro-may-turn-lower-vs-dollar-on-eurozone-cpi-data-tastylive
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Shifting rate expectations keep the dollar's direction uncertain, which influences dollar-priced commodity demand from currency-sensitive importers.

## Read by commodity

- DXY: neutral
- EURUSD: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2018-09-27 | [Markets on horns of euro-dollar dilemma](https://feedsoft.ai/events/63250-markets-on-horns-of-euro-dollar-dilemma.md) | -2.0% | -3.3% |
| EURUSD | 2022-11-23 | [Euro vs US dollar: Long-term uncertainty amid interest differential](https://feedsoft.ai/events/38895-euro-vs-us-dollar-long-term-uncertainty-amid-interest-differential.md) | +0.5% | +3.1% |
| EURUSD | 2024-03-07 | [EUR/USD up on the day after conclusion of ECB policy meeting](https://feedsoft.ai/events/31422-eur-usd-up-on-the-day-after-conclusion-of-ecb-policy-meeting.md) | +0.3% | -0.8% |
| EURUSD | 2020-12-09 | [ECB Euro Cheat Sheet: Weak Dollar Trend Makes It More Difficult To Reverse EUR/USD Gains](https://feedsoft.ai/events/49862-ecb-euro-cheat-sheet-weak-dollar-trend-makes-it-more-difficult-to-reverse-eur.md) | +0.4% | +1.2% |
| EURUSD | 2021-04-22 | [Euro and U.S. dollar waffle as markets weigh ECB policy talk](https://feedsoft.ai/events/47818-euro-and-u-s-dollar-waffle-as-markets-weigh-ecb-policy-talk.md) | +0.5% | +1.5% |
| DXY | 2018-09-14 | [GBP/USD: Will A Deluge Of US Data Pull Dollar Lower vs. Pound? - Currency Live](https://feedsoft.ai/events/63287-gbp-usd-will-a-deluge-of-us-data-pull-dollar-lower-vs-pound-currency-live.md) | -0.4% | +0.4% |
| DXY | 2023-05-22 | [Daily FX 22.05.23: US Debt-Ceiling Talks, EUR/USD Direction Key To Pound Vs Euro, Dollar](https://feedsoft.ai/events/36197-daily-fx-22-05-23-us-debt-ceiling-talks-eur-usd-direction-key-to-pound-vs-euro.md) | +0.7% | -0.7% |
| DXY | 2018-09-27 | [Markets on horns of euro-dollar dilemma](https://feedsoft.ai/events/63250-markets-on-horns-of-euro-dollar-dilemma.md) | +0.4% | +1.6% |

## Sources

- tastylive.com: https://www.tastylive.com/news-insights/eur-usd-euro-lower-vs-dollar-eurozone-cpi-data

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