# EUR/USD retreats on mixed EU data, ahead of Fed’s decision – Noor Trends

> EUR/USD fell from a weekly high of 1.0675 to below 1.0600 after mixed Eurozone data showed Q3 GDP down 0.1% and October inflation at 2.9%. US consumer confidence and employment costs also came in firmer than expected, and the Fed decision was pending.

- Date: 2023-10-31 · published 2023-10-31T12:00:00.000Z
- Category: macro · region Europe · magnitude low
- Page: https://feedsoft.ai/events/33846-eur-usd-retreats-on-mixed-eu-data-ahead-of-fed-s-decision-noor-trends
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

Stronger US data and a weaker Eurozone growth outlook keep the dollar firm, which can pressure dollar-priced commodity values. Traders are weighing Fed hold versus further hike risk.

## Read by commodity

- EURUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2018-11-05 | [EURUSD retreats on ECB Italy and soft data ahead of US midterm elections](https://feedsoft.ai/events/62241-eurusd-retreats-on-ecb-italy-and-soft-data-ahead-of-us-midterm-elections.md) | -0.5% | -0.3% |
| EURUSD | 2022-03-03 | [Euro extends recent fall, U.S. dollar gains ahead of jobs data](https://feedsoft.ai/events/8257-euro-extends-recent-fall-u-s-dollar-gains-ahead-of-jobs-data.md) | -0.3% | +0.5% |
| EURUSD | 2026-08-27 | [Euro retreats below 1.1650 as inflation data buoys US Dollar ahead of Jackson Hole](https://feedsoft.ai/events/18100-euro-retreats-below-1-1650-as-inflation-data-buoys-us-dollar-ahead-of-jackson.md) | -0.5% | -2.4% |
| EURUSD | 2025-01-30 | [COMMENT-ECB, data set the stage for lower EUR/USD as tariff decision looms](https://feedsoft.ai/events/26731-comment-ecb-data-set-the-stage-for-lower-eur-usd-as-tariff-decision-looms.md) | +0.0% | -0.0% |
| EURUSD | 2023-12-06 | [DXY Rebounds on Mixed US Data, Euro Tumbles \| LiquidityFinder](https://feedsoft.ai/events/32976-dxy-rebounds-on-mixed-us-data-euro-tumbles-liquidityfinder.md) | +0.0% | +1.6% |

## Sources

- noortrends.ae: https://noortrends.ae/en/eur-usd-retreats-on-mixed-eu-data-ahead-of-feds-decision/11/01/market-updates/

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