# FOREX Dollar firm as Fed officials urge patience on rate cuts

> The dollar edged up against the euro after Federal Reserve policymakers said it was prudent to wait several more months before cutting rates, to confirm inflation is returning to the 2% target.

- Date: 2024-05-21 · published 2024-05-21T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/30472-forex-dollar-firm-as-fed-officials-urge-patience-on-rate-cuts
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

Delayed Fed easing supports the dollar, which can pressure dollar-priced commodity demand from importers.

## Read by commodity

- DXY: bullish ▲
- EURUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2019-05-01 | [Dollar rises as Fed's Powell cools bets on rate-cut](https://feedsoft.ai/events/59251-dollar-rises-as-fed-s-powell-cools-bets-on-rate-cut.md) | +0.2% | +1.1% |
| DXY | 2021-05-26 | [Equities, dollar rise as Fed officials downplay inflation concerns](https://feedsoft.ai/events/47004-equities-dollar-rise-as-fed-officials-downplay-inflation-concerns.md) | -0.2% | +1.4% |
| DXY | 2022-08-02 | [Dollar jumps vs yen as Fed officials hint more rate hikes coming \| Reuters](https://feedsoft.ai/events/40270-dollar-jumps-vs-yen-as-fed-officials-hint-more-rate-hikes-coming-reuters.md) | +0.4% | +1.7% |
| DXY | 2021-09-23 | [Gold prices ease as dollar firms on Fed rate hike comments \| Financial Post](https://feedsoft.ai/events/44965-gold-prices-ease-as-dollar-firms-on-fed-rate-hike-comments-financial-post.md) | +1.0% | -0.0% |
| DXY | 2024-04-18 | [US dollar gains after strong data, Fed comments on rate cuts](https://feedsoft.ai/events/12555-us-dollar-gains-after-strong-data-fed-comments-on-rate-cuts.md) | -0.1% | -1.4% |
| EURUSD | 2016-12-15 | [Dollar, bond yields advance on Fed rate outlook](https://feedsoft.ai/events/6462-dollar-bond-yields-advance-on-fed-rate-outlook.md) | -2.2% | -0.3% |
| EURUSD | 2022-08-31 | [‘King dollar’ surges as Fed presses ahead with rate rises](https://feedsoft.ai/events/40216-king-dollar-surges-as-fed-presses-ahead-with-rate-rises.md) | -0.8% | -3.4% |
| EURUSD | 2021-01-27 | [ECB officials hinting rate cuts What it means for EURUSD](https://feedsoft.ai/events/49382-ecb-officials-hinting-rate-cuts-what-it-means-for-eurusd.md) | -1.0% | -0.0% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/dollar-steady-ether-fuels-crypto-rally-2024-05-21/

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