# Forex markets: Dollar drops as US jobless claims surge

> The dollar dropped to a one-week low after U.S. jobless claims surged to a record above 3 million. Fed Chair Powell said the economy may be in recession. The dollar index fell 1.5% to 99.57.

- Date: 2020-03-26 · published 2020-03-26T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/6584-forex-markets-dollar-drops-as-us-jobless-claims-surge
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

The record jobless data signals a sharp demand slump, which pushes the dollar lower through lower rate expectations and risk-off flows. Weaker demand for commodities could also weigh on prices.

## Read by commodity

- DXY: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| DXY | 2020-03-26 | 1 | -1.9% | -4.8 | On 2020-03-26 the dollar index fell 1.5% to a one-week low after record US jobless claims and Powell's recession comment, which directly matches the day's drop. |
| DXY | 2020-03-31 | 5 | -2.4% | -3.3 | Record jobless claims and Powell's recession comment drove a 1.5% dollar index drop on 26 March, inside the window. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2025-08-03 | [US jobs shock hit markets; USD tumbles](https://feedsoft.ai/events/10143-us-jobs-shock-hit-markets-usd-tumbles.md) | -0.7% | -0.8% |
| DXY | 2022-01-12 | [Dollar slumps as U.S. inflation surge comes in line with expectations](https://feedsoft.ai/events/43389-dollar-slumps-as-u-s-inflation-surge-comes-in-line-with-expectations.md) | -0.2% | -0.0% |
| DXY | 2020-07-31 | [Oil on track for monthly gains as US cuts production - Markets - Business Recorder](https://feedsoft.ai/events/52264-oil-on-track-for-monthly-gains-as-us-cuts-production-markets-business-recorder.md) | -0.3% | -0.6% |
| DXY | 2024-09-28 | [Dollar drops after inflation data - Business & Finance - Business Recorder](https://feedsoft.ai/events/28510-dollar-drops-after-inflation-data-business-and-finance-business-recorder.md) | +0.9% | +3.1% |
| DXY | 2022-02-02 | [U.S. dollar falls after private jobs data; euro up as inflation heats up](https://feedsoft.ai/events/42903-u-s-dollar-falls-after-private-jobs-data-euro-up-as-inflation-heats-up.md) | -0.2% | +0.3% |

## Sources

- cnbc.com: https://www.cnbc.com/2020/03/26/forex-markets-coronavirus-us-dollar-in-focus.html

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