# Dollar gains, euro dips after cautious ECB

> The dollar gained against the euro after the ECB eased its pace of rate hikes, a day after the Federal Reserve raised rates by 25 basis points and dropped language anticipating further increases. The dollar index traded near 101.52 and yen was near 152 per dollar.

- Date: 2023-05-04 · published 2023-05-04T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/36157-dollar-gains-euro-dips-after-cautious-ecb
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md), [Japanese Yen (JPY per USD)](https://feedsoft.ai/c/USDJPY.md)

## Why it matters

Expectations of Fed rate cuts later in the year weigh on the dollar, while a cautious ECB narrows rate differentials, both shaping the relative price of dollar-denominated grain and meal.

## Read by commodity

- DXY: bullish ▲
- EURUSD: bearish ▼
- USDJPY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2026-10-01 | [Dollar rises, euro slips after ECB rate increase](https://feedsoft.ai/events/17692-dollar-rises-euro-slips-after-ecb-rate-increase.md) | +0.2% | +0.6% |
| DXY | 2023-08-31 | [Dollar gains on solid data, euro drops on cautious ECB comments - Markets - Business Recorder](https://feedsoft.ai/events/34781-dollar-gains-on-solid-data-euro-drops-on-cautious-ecb-comments-markets-business.md) | +1.8% | +2.3% |
| DXY | 2025-04-15 | [Dollar gains on euro, yen, but tariffs keep investors cautious \| Reuters](https://feedsoft.ai/events/7251-dollar-gains-on-euro-yen-but-tariffs-keep-investors-cautious-reuters.md) | -1.1% | -0.1% |
| DXY | 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) | +0.7% | -2.5% |
| DXY | 2024-07-18 | [Euro falls after ECB holds rates, dollar climbs after data](https://feedsoft.ai/events/29485-euro-falls-after-ecb-holds-rates-dollar-climbs-after-data.md) | +0.8% | -0.1% |
| EURUSD | 2026-10-01 | [Dollar rises, euro slips after ECB rate increase](https://feedsoft.ai/events/17692-dollar-rises-euro-slips-after-ecb-rate-increase.md) | -1.4% | -1.6% |
| 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 | 2023-08-31 | [Dollar gains on solid data, euro drops on cautious ECB comments - Markets - Business Recorder](https://feedsoft.ai/events/34781-dollar-gains-on-solid-data-euro-drops-on-cautious-ecb-comments-markets-business.md) | -2.0% | -3.2% |

## Sources

- cnbc.com: https://www.cnbc.com/2023/05/04/dollar-falls-after-fed-signals-pause-banking-woes-dent-confidence.html

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