# Dollar hits new one-month high as data weighs on rate cut hopes

> The dollar index hit a one-month high after US retail sales rose 0.6% in December, beating forecasts. The data reduced expectations for an early Federal Reserve rate cut.

- Date: 2024-01-17 · published 2024-01-17T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/32291-dollar-hits-new-one-month-high-as-data-weighs-on-rate-cut-hopes
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Strong US consumer data that delays rate cuts supports the dollar, which can weigh on dollar-priced feed commodities and US export competitiveness.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2026-10-01 | [Dollar Hits Near 18-Month High on Prospect of Higher U.S. Rates -- 2nd Update](https://feedsoft.ai/events/17226-dollar-hits-near-18-month-high-on-prospect-of-higher-u-s-rates-2nd-update.md) | +0.2% | +0.6% |
| DXY | 2026-07-29 | [Vietnamese Dong Weakens as Dollar Holds Near One-Month High](https://feedsoft.ai/events/18661-vietnamese-dong-weakens-as-dollar-holds-near-one-month-high.md) | -0.9% | -2.0% |
| DXY | 2018-06-20 | [Dollar hovers near 11-month high as trade concerns weigh](https://feedsoft.ai/events/8535-dollar-hovers-near-11-month-high-as-trade-concerns-weigh.md) | -0.3% | -0.3% |
| DXY | 2026-09-24 | [Dollar Holds Near Two-Month High As Rate Bets Reset - Finimize](https://feedsoft.ai/events/17644-dollar-holds-near-two-month-high-as-rate-bets-reset-finimize.md) | +0.7% | +1.0% |
| DXY | 2016-11-16 | [Dollar near 11-month highs as upbeat US data gives rally fresh legs](https://feedsoft.ai/events/8330-dollar-near-11-month-highs-as-upbeat-us-data-gives-rally-fresh-legs.md) | +0.6% | -0.0% |

## Sources

- cnbc.com: https://www.cnbc.com/2024/01/17/dollar-at-one-month-high-as-rate-cut-expectations-ease-on-fedspeak.html

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