# Euro near seven-week lows before PMI data release - The HinduBusinessLine

> The euro fell to $1.1049 on January 24, 2020, near seven-week lows, after the ECB struck a more dovish tone than expected. The dollar index held at 97.717 and was on track for a third weekly gain, with markets awaiting flash PMI data.

- Date: 2020-01-24 · published 2020-01-24T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/55292-euro-near-seven-week-lows-before-pmi-data-release-the-hindubusinessline
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A stronger dollar tends to weigh on US commodity prices in global markets while supporting import costs elsewhere. The move reflects currency sentiment rather than a supply or demand change for feed.

## Read by commodity

- DXY: bullish ▲
- EURUSD: bearish ▼

## Sources

- thehindubusinessline.com: https://www.thehindubusinessline.com/markets/forex/euro-near-7-week-low-after-ecb-virus-fears-support-yen/article30640648.ece

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