# Dollar steady after producer prices push back on Fed rate cut outlook

> The dollar held near a one-month low after soft inflation data, then retreated after higher producer prices pushed back on expected Fed cuts. January retail sales fell sharply, the steepest drop in 10 months, which kept some doubt about U.S. economic momentum.

- Date: 2024-02-16 · published 2024-02-16T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/31574-dollar-steady-after-producer-prices-push-back-on-fed-rate-cut-outlook
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A firmer dollar makes U.S. grain and meal exports less competitive, so the currency move is a modest headwind for export demand and prices.

## Read by commodity

- DXY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-11-16 | [Dollar steady as U.S. jobless claims boost Fed rate cut bets](https://feedsoft.ai/events/10103-dollar-steady-as-u-s-jobless-claims-boost-fed-rate-cut-bets.md) | -0.3% | -1.2% |
| DXY | 2019-06-17 | [Forex Market: Dollar steady ahead of Fed meeting; low chances of June rate cut](https://feedsoft.ai/events/58784-forex-market-dollar-steady-ahead-of-fed-meeting-low-chances-of-june-rate-cut.md) | -0.9% | -1.1% |
| DXY | 2024-09-18 | [Dollar gains ground after Fed delivers bumper 50 basis point rate cut](https://feedsoft.ai/events/28505-dollar-gains-ground-after-fed-delivers-bumper-50-basis-point-rate-cut.md) | -0.4% | +1.9% |
| DXY | 2026-07-30 | [Dollar Slides After Fed Holds Rates Steady; BoE and BoJ Take Center Stage \| Investing.com](https://feedsoft.ai/events/18550-dollar-slides-after-fed-holds-rates-steady-boe-and-boj-take-center-stage.md) | -1.2% | -1.9% |
| DXY | 2024-09-23 | [The FED's first rate cut - Cross-asset outlook \| Julius Baer](https://feedsoft.ai/events/28509-the-fed-s-first-rate-cut-cross-asset-outlook-julius-baer.md) | -0.2% | +2.5% |

## Sources

- cnbc.com: https://www.cnbc.com/2024/02/16/dollar-steady-as-traders-weigh-economic-data-yen-fragile.html

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