# Dollar gives back gains, strong wage growth complicates Fed policy

> The dollar dipped on Dec 2 after an early jump, as investors took profits following strong November jobs data and wage growth. Payrolls rose 263,000 against estimates of 200,000, and average hourly earnings rose 0.6%. A Fed official said rate hikes were likely to slow.

- Date: 2022-12-02 · published 2022-12-02T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/38422-dollar-gives-back-gains-strong-wage-growth-complicates-fed-policy
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Strong wage growth keeps the Fed hawkish, which supports the dollar and can pressure dollar-priced commodities. The mixed signals leave the dollar's near-term direction uncertain for export markets.

## Read by commodity

- DXY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-08-17 | [Dollar pares gains as some Fed officials show caution on growth \| Reuters](https://feedsoft.ai/events/39940-dollar-pares-gains-as-some-fed-officials-show-caution-on-growth-reuters.md) | +1.1% | +2.3% |
| DXY | 2024-09-18 | [Dollar gains ground after Fed delivers bumper 50 basis point rate cut](https://feedsoft.ai/events/28505-dollar-gains-ground-after-fed-delivers-bumper-50-basis-point-rate-cut.md) | -0.4% | +1.9% |
| DXY | 2025-10-30 | [Dollar hands back some gains after Fed meeting; euro looks to ECB By Investing.com](https://feedsoft.ai/events/22616-dollar-hands-back-some-gains-after-fed-meeting-euro-looks-to-ecb-by-investing.md) | +1.1% | +0.4% |
| DXY | 2020-09-17 | [Dollar's post Fed gains fizzle as long rate pause seen \| Financial Post](https://feedsoft.ai/events/51284-dollar-s-post-fed-gains-fizzle-as-long-rate-pause-seen-financial-post.md) | +1.6% | +0.6% |
| DXY | 2024-10-31 | [Dollar Consolidates, Yen Gains After BOJ Decision](https://feedsoft.ai/events/28112-dollar-consolidates-yen-gains-after-boj-decision.md) | +0.7% | +1.4% |

## Sources

- cnbc.com: https://www.cnbc.com/2022/12/02/forex-markets-inflation-jobs-data-interest-rates.html

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