# EUR/USD: ECB Hikes and euro falls as stagflation risks grow; Dollar strength extends after US retail sales data | MarketPulse by OANDA Group

> The euro fell to its lowest since May after the ECB hiked rates and cut its growth forecasts while raising inflation outlooks. Strong U.S. retail sales and jobless claims data reinforced expectations that the U.S. economy will outperform the euro zone.

- Date: 2023-09-14 · published 2023-09-14T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/34317-eur-usd-ecb-hikes-and-euro-falls-as-stagflation-risks-grow-dollar-strength
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Diverging growth outlooks support the dollar and reduce expected U.S. rate cuts, a combination that generally pressures dollar-priced agricultural commodities.

## Read by commodity

- DXY: bullish ▲
- EURUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2024-10-17 | [US dollar buoyed by retail sales data, euro falls as more cuts underway](https://feedsoft.ai/events/28050-us-dollar-buoyed-by-retail-sales-data-euro-falls-as-more-cuts-underway.md) | -0.9% | -2.9% |
| EURUSD | 2023-07-27 | [EUR/USD - Euro sinks as ECB signals a September pause is possible \| MarketPulse by OANDA Group](https://feedsoft.ai/events/35252-eur-usd-euro-sinks-as-ecb-signals-a-september-pause-is-possible-marketpulse-by.md) | -1.3% | -1.9% |
| EURUSD | 2023-10-31 | [EUR/USD - Eurozone inflation eases further than expected, US ECI a minor concern \| MarketPulse by OANDA Group](https://feedsoft.ai/events/33840-eur-usd-eurozone-inflation-eases-further-than-expected-us-eci-a-minor-concern.md) | +1.2% | +3.3% |
| EURUSD | 2022-09-30 | [Dollar gains on euro after inflation data, sterling falls](https://feedsoft.ai/events/39798-dollar-gains-on-euro-after-inflation-data-sterling-falls.md) | +0.3% | +1.6% |
| EURUSD | 2022-10-27 | [Euro falls against the dollar after ECB rate hike, U.S. data](https://feedsoft.ai/events/39360-euro-falls-against-the-dollar-after-ecb-rate-hike-u-s-data.md) | -1.9% | +3.3% |
| DXY | 2021-07-13 | [Pound extends fall after US inflation data lifts dollar - Markets - Business Recorder](https://feedsoft.ai/events/46308-pound-extends-fall-after-us-inflation-data-lifts-dollar-markets-business.md) | +0.7% | +0.6% |
| DXY | 2024-10-17 | [US dollar buoyed by retail sales data, euro falls as more cuts underway](https://feedsoft.ai/events/28050-us-dollar-buoyed-by-retail-sales-data-euro-falls-as-more-cuts-underway.md) | +0.6% | +2.5% |
| DXY | 2023-07-27 | [EUR/USD - Euro sinks as ECB signals a September pause is possible \| MarketPulse by OANDA Group](https://feedsoft.ai/events/35252-eur-usd-euro-sinks-as-ecb-signals-a-september-pause-is-possible-marketpulse-by.md) | +1.2% | +1.9% |

## Sources

- marketpulse.com: https://www.marketpulse.com/news/eurusd-ecb-hikes-and-euro-falls-as-stagflation-risks-grow-dollar-strength-extends-after-us-retail-sales-data/

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