# Dollar gains on solid data, euro drops on cautious ECB comments - Markets - Business Recorder

> The dollar gained on Thursday as U.S. consumer spending accelerated in July, while the euro fell after cautious comments from an ECB hawk. The PCE price index rose 0.2%, and the dollar index was last up 0.54% at 103.66. Fed funds futures priced an 89% chance of no change in September and a 44% chance of a November hike.

- Date: 2023-08-31 · published 2023-08-31T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/34781-dollar-gains-on-solid-data-euro-drops-on-cautious-ecb-comments-markets-business
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

A firmer dollar raises the local-currency cost of dollar-priced grains and meal for importers, which can weigh on export demand and prices. Mixed data leaves the Fed outlook uncertain, so the dollar's direction remains unsettled.

## Read by commodity

- DXY: bullish ▲
- EURUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-03-03 | [Euro extends recent fall; dollar gains on data, Powell comments - Business & Finance - Business Recorder](https://feedsoft.ai/events/12081-euro-extends-recent-fall-dollar-gains-on-data-powell-comments-business-and.md) | +0.7% | -0.6% |
| DXY | 2026-08-31 | [Dollar slips ahead of US jobs data - Markets - Business Recorder](https://feedsoft.ai/events/18078-dollar-slips-ahead-of-us-jobs-data-markets-business-recorder.md) | -0.6% | +1.6% |
| DXY | 2025-09-26 | [Dollar holds gains as attention turns to spending data for Fed clues - Markets - Business Recorder](https://feedsoft.ai/events/23082-dollar-holds-gains-as-attention-turns-to-spending-data-for-fed-clues-markets.md) | -0.1% | +0.3% |
| DXY | 2024-05-08 | [China’s yuan slips as hawkish Fed comments boost dollar - Markets - Business Recorder](https://feedsoft.ai/events/5869-china-s-yuan-slips-as-hawkish-fed-comments-boost-dollar-markets-business.md) | -0.1% | +0.4% |
| DXY | 2023-05-04 | [Dollar gains, euro dips after cautious ECB](https://feedsoft.ai/events/36157-dollar-gains-euro-dips-after-cautious-ecb.md) | -0.5% | +0.8% |
| EURUSD | 2022-03-03 | [Euro extends recent fall; dollar gains on data, Powell comments - Business & Finance - Business Recorder](https://feedsoft.ai/events/12081-euro-extends-recent-fall-dollar-gains-on-data-powell-comments-business-and.md) | -0.3% | +0.5% |
| EURUSD | 2023-05-04 | [Dollar gains, euro dips after cautious ECB](https://feedsoft.ai/events/36157-dollar-gains-euro-dips-after-cautious-ecb.md) | -0.8% | -2.7% |
| EURUSD | 2021-10-28 | [Euro drops ahead of ECB meeting, yen looks past BOJ doves - Markets - Business Recorder](https://feedsoft.ai/events/7161-euro-drops-ahead-of-ecb-meeting-yen-looks-past-boj-doves-markets-business.md) | -0.1% | -2.6% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40260840
- reuters.com: https://www.reuters.com/markets/currencies/euro-jumps-inflation-while-dollar-braces-jobs-2023-08-31/

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