# US tax and upbeat economic outlooks lift dollar’s fortunes | The National

> US third-quarter GDP grew 3%, above the expected 2.5%, which strengthened expectations of a Fed rate hike in December. The Dollar Index reached three-month highs near 95.06, supported also by optimism over the Republican tax plan.

- Date: 2017-10-30 · published 2017-10-30T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/68659-us-tax-and-upbeat-economic-outlooks-lift-dollar-s-fortunes-the-national
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Stronger growth and rate expectations support the dollar, which tends to pressure dollar-priced commodities such as grains and oilseeds. Buyers should expect firmer dollar conditions to continue into November.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-04-04 | [Lisa D Cook: The US economic outlook and monetary policy](https://feedsoft.ai/events/36300-lisa-d-cook-the-us-economic-outlook-and-monetary-policy.md) | +0.4% | +0.1% |
| DXY | 2020-09-17 | [Yuan falls on dollar strength after Fed's upbeat economic outlook \| Financial Post](https://feedsoft.ai/events/51315-yuan-falls-on-dollar-strength-after-fed-s-upbeat-economic-outlook-financial-post.md) | +1.6% | +0.6% |
| DXY | 2018-09-30 | [Is the US dollar heading for a crash?  \| The National](https://feedsoft.ai/events/63245-is-the-us-dollar-heading-for-a-crash-the-national.md) | +0.7% | +1.8% |
| DXY | 2020-09-02 | [Dollar buoyed by upbeat U.S. economic data; Aussie falls](https://feedsoft.ai/events/51362-dollar-buoyed-by-upbeat-u-s-economic-data-aussie-falls.md) | +0.5% | +1.2% |
| DXY | 2024-08-28 | [US dollar advances on month-end demand; focus on economic data](https://feedsoft.ai/events/28982-us-dollar-advances-on-month-end-demand-focus-on-economic-data.md) | +0.5% | -0.3% |

## Sources

- thenationalnews.com: https://www.thenationalnews.com/business/money/us-tax-and-upbeat-economic-outlooks-lift-dollars-fortunes-1.671404

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