# Euro sinks after bleak manufacturing, services data; U.S. dollar rises

> The euro fell to its lowest level since 2017 after weak German and French PMI data showed the euro zone economy struggling. Markets trimmed expectations for ECB rate hikes while the dollar gained on recession concerns and safe-haven demand. The article also cites Gazprom cutting gas supplies to Poland and Bulgaria.

- Date: 2022-06-23 · published 2022-06-23T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/41159-euro-sinks-after-bleak-manufacturing-services-data-u-s-dollar-rises
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Natural Gas](https://feedsoft.ai/c/NATGAS.md)

## Why it matters

Weak euro zone growth and a stronger dollar lift the cost of dollar-priced imports for European feed buyers and weigh on the energy-driven cost base of feed production.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2022-10-27 | [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) | -1.9% | +3.3% |
| EURUSD | 2026-09-10 | [Euro slips as dollar rises after ECB rate hike \| MarketScreener](https://feedsoft.ai/events/17698-euro-slips-as-dollar-rises-after-ecb-rate-hike-marketscreener.md) | -0.8% | -3.8% |
| EURUSD | 2021-11-11 | [Dollar rockets to 16-month highs after hot U.S. inflation; euro sinks \| Reuters](https://feedsoft.ai/events/11949-dollar-rockets-to-16-month-highs-after-hot-u-s-inflation-euro-sinks-reuters.md) | -1.4% | -1.8% |
| 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% |
| DXY | 2021-08-12 | [Dollar rises after U.S. producer prices surge](https://feedsoft.ai/events/45757-dollar-rises-after-u-s-producer-prices-surge.md) | +0.4% | -0.2% |
| DXY | 2023-07-27 | [Global equities fall, dollar rises after strong U.S. data, rate hikes](https://feedsoft.ai/events/34961-global-equities-fall-dollar-rises-after-strong-u-s-data-rate-hikes.md) | +1.2% | +1.9% |
| 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% |

## Sources

- cnbc.com: https://www.cnbc.com/2022/06/23/forex-markets-dollar-treasury-yield-recession-interest-rate.html

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