# Hawkish Fed bets drive dollar higher | Convera

> The US dollar was on track for a second weekly rise as better-than-expected US economic data and easing debt ceiling concerns lifted the currency. Money markets priced a 33% chance of a Fed hike the following month, up from 10% the previous week.

- Date: 2023-05-19 · published 2023-05-19T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/36143-hawkish-fed-bets-drive-dollar-higher-convera
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Higher rate-hike expectations strengthen the dollar, which weighs on dollar-priced commodity exports and raises import costs for buyers in other currencies. The influence on feed prices is indirect.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2021-06-18 | [Hawkish Bullard sends US Dollar higher](https://feedsoft.ai/events/5935-hawkish-bullard-sends-us-dollar-higher.md) | -0.2% | +0.4% |
| DXY | 2022-11-17 | [Dollar rises with bets on hawkish Fed; sterling drops \| Reuters](https://feedsoft.ai/events/38594-dollar-rises-with-bets-on-hawkish-fed-sterling-drops-reuters.md) | +0.4% | -0.6% |
| DXY | 2026-09-17 | [Fed Delivers Hawkish Hike, Dollar Rallies but Gold Recovers \| Investing.com](https://feedsoft.ai/events/17386-fed-delivers-hawkish-hike-dollar-rallies-but-gold-recovers-investing-com.md) | +1.0% | +2.2% |
| DXY | 2020-09-23 | [Gold and Silver Hit by Hawkish Fed Boost to Dollar - Markets Insider](https://feedsoft.ai/events/51033-gold-and-silver-hit-by-hawkish-fed-boost-to-dollar-markets-insider.md) | +0.8% | -1.4% |
| DXY | 2016-12-15 | [Dollar charges higher after Fed hikes rates](https://feedsoft.ai/events/6465-dollar-charges-higher-after-fed-hikes-rates.md) | +1.6% | +1.1% |

## Sources

- convera.com: https://convera.com/blog/market-insights/fx-research/daily-market-updates/hawkish-fed-bets-drive-dollar-higher/

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