# Forex Today: The US labour market comes to the fore

> The Federal Reserve left rates unchanged and dropped wording about possible hikes, while Powell's press conference remarks were read as hawkish. The dollar strengthened and EUR/USD tested year-to-date lows below 1.0800. Attention turned to upcoming US jobless claims and ISM data.

- Date: 2024-01-31 · published 2024-01-31T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/32035-forex-today-the-us-labour-market-comes-to-the-fore
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A stronger dollar on hawkish Fed signals tends to pressure dollar-priced agricultural commodities. The move is a short-term currency reaction.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2025-02-28 | [US Dollar Forecast: Attention returns to US labour market](https://feedsoft.ai/events/26227-us-dollar-forecast-attention-returns-to-us-labour-market.md) | -1.5% | -1.3% |
| DXY | 2025-03-31 | [Forex Today: The RBA, US hard data and EMU flash CPI come to the fore](https://feedsoft.ai/events/25849-forex-today-the-rba-us-hard-data-and-emu-flash-cpi-come-to-the-fore.md) | -0.5% | -2.8% |
| DXY | 2016-12-23 | [Market braces for stronger dollar - The Korea Times](https://feedsoft.ai/events/73675-market-braces-for-stronger-dollar-the-korea-times.md) | -0.4% | -1.6% |
| DXY | 2026-06-19 | [EUR/USD Loses Ground as Market Sentiment Favours the US Dollar \| Investing.com](https://feedsoft.ai/events/11516-eur-usd-loses-ground-as-market-sentiment-favours-the-us-dollar-investing-com.md) | +0.4% | +0.1% |
| DXY | 2023-06-30 | [Breakouts in US bond markets – a tailwind for the USD](https://feedsoft.ai/events/35677-breakouts-in-us-bond-markets-a-tailwind-for-the-usd.md) | -0.4% | -1.5% |

## Sources

- fxstreet.com: https://www.fxstreet.com/news/forex-today-the-us-labour-market-comes-to-the-fore-202401312041

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