# FXNEWS24 |US Dollar Looks to Jobs Data After Fed; Setups on Gold, EUR/USD, USD/JPY, GBP/USD | UK Forex Reviews

> The Federal Reserve kept rates at 5.25%-5.50% and dropped its tightening bias but signaled no imminent easing. Powell said policymakers may not be confident enough to cut at the next meeting. Traders are now looking to the upcoming US jobs report for clues on a March cut.

- Date: 2024-01-31 · published 2024-01-31T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/32037-fxnews24-us-dollar-looks-to-jobs-data-after-fed-setups-on-gold-eur-usd-usd-jpy
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Uncertainty over a March cut supports a firmer dollar in the near term, which can weigh on dollar-priced commodities. A weak jobs print could reverse that pressure.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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% |
| DXY | 2021-06-15 | [FOREX-Dollar edges up after U.S. inflation data as traders await Fed outcome](https://feedsoft.ai/events/12552-forex-dollar-edges-up-after-u-s-inflation-data-as-traders-await-fed-outcome.md) | +1.7% | +1.8% |
| DXY | 2024-01-25 | [US dollar gains after GDP data; euro falls to six-week low after dovish ECB, Lagarde \| Reuters](https://feedsoft.ai/events/32033-us-dollar-gains-after-gdp-data-euro-falls-to-six-week-low-after-dovish-ecb.md) | -0.0% | +0.5% |
| DXY | 2019-09-06 | [FOREX-U.S jobs data supports dollar as fragile risk-on mood holds](https://feedsoft.ai/events/12330-forex-u-s-jobs-data-supports-dollar-as-fragile-risk-on-mood-holds.md) | -0.5% | +0.2% |
| DXY | 2017-01-13 | [CBA's Australian Dollar Forecasts 2017: USD to Rule but AUD to Advance on EUR, GBP](https://feedsoft.ai/events/73255-cba-s-australian-dollar-forecasts-2017-usd-to-rule-but-aud-to-advance-on-eur-gbp.md) | -0.5% | -1.2% |

## Sources

- fxnews24.co.uk: https://fxnews24.co.uk/forex/us-dollar-looks-to-jobs-data-after-fed-setups-on-gold-eur-usd-usd-jpy-gbp-usd/

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