# Dollar falls to two-week low as economic data softens

> The dollar fell to a two-week low against the euro and a basket of currencies after U.S. private payrolls rose less than expected in August. The dollar index was last down 0.36% at 103.16, after falling from 104.44 the previous Friday. Markets priced an 89% chance the Fed would hold rates in September.

- Date: 2023-08-30 · published 2023-08-30T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/34779-dollar-falls-to-two-week-low-as-economic-data-softens
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

A weaker dollar makes U.S. dollar-priced feed commodities cheaper for foreign buyers, which can support export demand and grain and meal prices. Softer data also reduces the odds of further Fed hikes, easing pressure on the currency.

## Read by commodity

- DXY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2025-02-25 | [Dollar falls after soft consumer confidence as economic concerns drag](https://feedsoft.ai/events/26224-dollar-falls-after-soft-consumer-confidence-as-economic-concerns-drag.md) | +0.4% | -0.8% |
| DXY | 2023-11-03 | [US dollar tumbles to six-week low after soft jobs data](https://feedsoft.ai/events/11456-us-dollar-tumbles-to-six-week-low-after-soft-jobs-data.md) | -0.6% | -2.0% |
| DXY | 2019-06-21 | [Dollar extends losses to 2-week low as US bond yields fall](https://feedsoft.ai/events/7440-dollar-extends-losses-to-2-week-low-as-us-bond-yields-fall.md) | -0.1% | +0.1% |
| DXY | 2019-06-20 | [Dollar falls to 2-week low after Federal Reserve meeting](https://feedsoft.ai/events/7438-dollar-falls-to-2-week-low-after-federal-reserve-meeting.md) | -1.1% | -0.8% |
| DXY | 2024-06-03 | [US dollar sinks to three-week low on signs of slowing economy](https://feedsoft.ai/events/29966-us-dollar-sinks-to-three-week-low-on-signs-of-slowing-economy.md) | +1.2% | +1.9% |
| EURUSD | 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) | -0.4% | -0.8% |
| EURUSD | 2024-06-03 | [US dollar sinks to three-week low on signs of slowing economy](https://feedsoft.ai/events/29966-us-dollar-sinks-to-three-week-low-on-signs-of-slowing-economy.md) | -0.4% | -1.1% |
| EURUSD | 2021-02-11 | [Dollar slides near two-week lows as Fed pledges low rates](https://feedsoft.ai/events/48817-dollar-slides-near-two-week-lows-as-fed-pledges-low-rates.md) | -0.4% | -1.3% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/dollar-licks-wounds-after-jobs-shock-aussie-dips-inflation-cools-2023-08-30/

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