# Dollar slumps after weak data, markets bet Fed nears end of hiking cycle

> The US dollar fell to a two-month low after weak JOLTS job openings data and falling factory orders, which led markets to expect the Federal Reserve is nearly done hiking. Sterling and the euro rose to multi-month highs against the dollar.

- Date: 2023-04-04 · published 2023-04-04T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/36647-dollar-slumps-after-weak-data-markets-bet-fed-nears-end-of-hiking-cycle
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A weaker dollar and lower US yields tend to support dollar-denominated commodity prices, including grains and oilseeds, by making them cheaper for foreign buyers.

## Read by commodity

- DXY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-07-13 | [Dollar buckles on US disinflation signs as Fed nears end of hiking cycle](https://feedsoft.ai/events/9978-dollar-buckles-on-us-disinflation-signs-as-fed-nears-end-of-hiking-cycle.md) | -0.2% | +1.6% |
| DXY | 2023-10-31 | [US dollar falls as markets believe Fed is done hiking rates \| Reuters](https://feedsoft.ai/events/11457-us-dollar-falls-as-markets-believe-fed-is-done-hiking-rates-reuters.md) | -1.4% | -2.9% |
| DXY | 2019-05-24 | [Dollar slips as weak data boosts US rate cut bets](https://feedsoft.ai/events/59248-dollar-slips-as-weak-data-boosts-us-rate-cut-bets.md) | +0.4% | -1.2% |
| DXY | 2021-11-03 | [Dollar dips after Fed confirms beginning of taper](https://feedsoft.ai/events/44248-dollar-dips-after-fed-confirms-beginning-of-taper.md) | -0.5% | +1.5% |
| DXY | 2024-02-07 | [Dollar slips as market awaits new data for direction \| Reuters](https://feedsoft.ai/events/31885-dollar-slips-as-market-awaits-new-data-for-direction-reuters.md) | +0.5% | -0.4% |

## Sources

- cnbc.com: https://www.cnbc.com/2023/04/04/dollar-slides-on-sluggish-us-data-aussie-steadies-ahead-of-rba.html

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