# Dollar Steady Ahead of Fed Meeting - Euro Weakens | Global Banking & Finance Review

> The dollar index was steady near 103.6 on January 29 as investors awaited the Federal Reserve meeting. Markets were pricing a 49% chance of a March rate cut, down from 86% at the end of December. The euro edged lower after ECB officials commented on the timing of rate cuts.

- Date: 2024-01-29 · published 2024-01-29T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/32346-dollar-steady-ahead-of-fed-meeting-euro-weakens-global-banking-and-finance
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

Reduced expectations of early Fed easing support the dollar and weigh on dollar-priced commodities, which can affect import costs for feed buyers abroad. The move reflects routine repricing of rate expectations.

## Read by commodity

- DXY: bullish ▲
- EURUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-08-31 | [Euro vs Dollar - Norwegian Krone Decline \| Global Banking & Finance Review](https://feedsoft.ai/events/40247-euro-vs-dollar-norwegian-krone-decline-global-banking-and-finance-review.md) | +0.9% | +3.6% |
| DXY | 2025-01-24 | [Bond Market Selloff and Trump Concerns \| Global Banking & Finance Review](https://feedsoft.ai/events/12679-bond-market-selloff-and-trump-concerns-global-banking-and-finance-review.md) | -0.1% | -0.8% |
| DXY | 2022-09-20 | [Australian dollar steady ahead of Fed and BoJ \| IG Bank Switzerland](https://feedsoft.ai/events/39842-australian-dollar-steady-ahead-of-fed-and-boj-ig-bank-switzerland.md) | +2.8% | +2.3% |
| DXY | 2025-10-30 | [Yen weakens after BOJ holds rates steady, Fed boosts dollar](https://feedsoft.ai/events/22641-yen-weakens-after-boj-holds-rates-steady-fed-boosts-dollar.md) | +1.1% | +0.4% |
| DXY | 2021-09-09 | [Dollar little changed, euro steady ahead of ECB decision](https://feedsoft.ai/events/45266-dollar-little-changed-euro-steady-ahead-of-ecb-decision.md) | -0.2% | +1.3% |
| EURUSD | 2022-08-31 | [Euro vs Dollar - Norwegian Krone Decline \| Global Banking & Finance Review](https://feedsoft.ai/events/40247-euro-vs-dollar-norwegian-krone-decline-global-banking-and-finance-review.md) | -0.8% | -3.4% |
| EURUSD | 2025-01-24 | [Bond Market Selloff and Trump Concerns \| Global Banking & Finance Review](https://feedsoft.ai/events/12679-bond-market-selloff-and-trump-concerns-global-banking-and-finance-review.md) | 0.0% | +0.3% |
| EURUSD | 2020-01-23 | [Dollar gains vs euro as ECB holds policy steady, launches review](https://feedsoft.ai/events/55288-dollar-gains-vs-euro-as-ecb-holds-policy-steady-launches-review.md) | -0.7% | -2.6% |

## Sources

- globalbankingandfinance.com: https://www.globalbankingandfinance.com/dollar-steady-before-fed-euro-slips-on-ecb-cut-comments/

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