# FX Daily: Flip Flop | articles | ING THINK

> ING's daily FX note reports that strong US January jobs data pushed the dollar higher and cut the odds of a March Fed rate cut to about 20%. ING expects the first Fed cut in May and notes that the upcoming ISM services data is expected to rise.

- Date: 2024-02-05 · published 2024-02-05T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/31892-fx-daily-flip-flop-articles-ing-think
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

A firmer dollar on delayed Fed easing tends to pressure dollar-priced commodities and emerging-market currencies, which can weigh on feed grain and meal prices.

## Read by commodity

- DXY: bullish ▲
- SOY: bearish ▼
- CORN: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2020-03-13 | [FX daily: Dislocation, dislocation, dislocation \| articles \| ING THINK](https://feedsoft.ai/events/6276-fx-daily-dislocation-dislocation-dislocation-articles-ing-think.md) | +3.8% | +1.6% |
| DXY | 2024-04-17 | [FX Daily: The big unwinding \| articles \| ING THINK](https://feedsoft.ai/events/30940-fx-daily-the-big-unwinding-articles-ing-think.md) | -0.3% | -1.0% |
| DXY | 2021-06-17 | [FX Daily: The Fed disrupting the calm \| articles \| ING THINK](https://feedsoft.ai/events/6129-fx-daily-the-fed-disrupting-the-calm-articles-ing-think.md) | +1.1% | +1.7% |
| DXY | 2024-11-21 | [FX Daily: Soft euro story dominates \| articles \| ING THINK](https://feedsoft.ai/events/27713-fx-daily-soft-euro-story-dominates-articles-ing-think.md) | -0.0% | +1.4% |
| DXY | 2023-10-25 | [FX Daily: Hawks versus data, part one \| articles \| ING THINK](https://feedsoft.ai/events/33851-fx-daily-hawks-versus-data-part-one-articles-ing-think.md) | +0.2% | -2.4% |
| CORN | 2023-09-28 | [FX Daily: Perfect storm drives dollar stronger still \| articles \| ING THINK](https://feedsoft.ai/events/34306-fx-daily-perfect-storm-drives-dollar-stronger-still-articles-ing-think.md) | +1.1% | +1.7% |
| CORN | 2023-11-03 | [FX: Dollar to defy seasonal trends \| articles \| ING THINK](https://feedsoft.ai/events/11460-fx-dollar-to-defy-seasonal-trends-articles-ing-think.md) | +1.0% | -1.0% |
| CORN | 2022-08-30 | [FX Daily: High bar for the Fed pivot leaves dollar in ascendancy \| articles \| ING THINK](https://feedsoft.ai/events/40251-fx-daily-high-bar-for-the-fed-pivot-leaves-dollar-in-ascendancy-articles-ing.md) | -3.3% | -4.2% |

## Sources

- think.ing.com: https://think.ing.com/articles/hold-fx-daily-flip-flop/

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