# Euro Surges to Strongest in a Year as Fed-Cut Bets Batter Dollar - Bloomberg

> The euro jumped to its highest level in more than a year as the dollar fell against major developed-market currencies. Traders increasingly expect the Federal Reserve to cut rates later in the year because of a worsening US economic outlook.

- Date: 2023-04-13 · published 2023-04-13T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/36584-euro-surges-to-strongest-in-a-year-as-fed-cut-bets-batter-dollar-bloomberg
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A weaker dollar and stronger euro make dollar-priced commodities cheaper for European buyers and can support US commodity prices, while the rate-cut outlook signals softer US growth ahead.

## Read by commodity

- DXY: bearish ▼
- EURUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2023-12-22 | [Euro (EUR USD) Hits Strongest Since August as Dollar Eases on US Rate Bets - Bloomberg](https://feedsoft.ai/events/32927-euro-eur-usd-hits-strongest-since-august-as-dollar-eases-on-us-rate-bets.md) | +0.7% | -1.5% |
| EURUSD | 2024-08-02 | [Euro-Dollar Surges as Odds of Emergency Federal Reserve Rate Cut Grows](https://feedsoft.ai/events/9284-euro-dollar-surges-as-odds-of-emergency-federal-reserve-rate-cut-grows.md) | +1.2% | +2.8% |
| EURUSD | 2017-07-31 | [Euro charges to 2 1/2-year high as dollar slumps - MarketWatch](https://feedsoft.ai/events/70183-euro-charges-to-2-1-2-year-high-as-dollar-slumps-marketwatch.md) | 0.0% | +1.0% |
| EURUSD | 2024-09-05 | [Investor bets shift as dollar weakens with looming Fed rate cuts](https://feedsoft.ai/events/28220-investor-bets-shift-as-dollar-weakens-with-looming-fed-rate-cuts.md) | -0.6% | -0.3% |
| EURUSD | 2017-07-20 | [Euro surges against dollar as Draghi says QE tightening talks will start in September](https://feedsoft.ai/events/70186-euro-surges-against-dollar-as-draghi-says-qe-tightening-talks-will-start-in.md) | +1.0% | +1.6% |
| DXY | 2024-08-23 | [Pound Rises to Strongest in Over Two Years Against the US Dollar - Bloomberg](https://feedsoft.ai/events/29067-pound-rises-to-strongest-in-over-two-years-against-the-us-dollar-bloomberg.md) | -0.1% | -0.8% |
| DXY | 2023-12-22 | [Euro (EUR USD) Hits Strongest Since August as Dollar Eases on US Rate Bets - Bloomberg](https://feedsoft.ai/events/32927-euro-eur-usd-hits-strongest-since-august-as-dollar-eases-on-us-rate-bets.md) | -0.8% | +1.5% |
| DXY | 2017-06-29 | [Dollar's Battle Gets Harder With Fed No Longer Only Hawk in Town - Bloomberg](https://feedsoft.ai/events/70699-dollar-s-battle-gets-harder-with-fed-no-longer-only-hawk-in-town-bloomberg.md) | +0.3% | -1.7% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2023-04-13/dollar-loses-on-rate-cut-bets-as-euro-nears-year-to-date-high

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