# Dollar Gains On Bets ECB Could Weaken Euro, Strong U.S. Data - Babypips.com

> The dollar rose broadly on August 30 on speculation that the ECB could act to weaken the euro, which had touched a 2.5-year high of $1.2069. Strong US GDP data and a solid ADP jobs report also supported the dollar. The euro fell back below $1.20.

- Date: 2017-08-31 · published 2017-08-31T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/69665-dollar-gains-on-bets-ecb-could-weaken-euro-strong-u-s-data-babypips-com
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

A firmer dollar makes US commodity exports dearer in foreign currencies and tends to pressure dollar-denominated grain and meal prices. The effect is typically modest unless it persists.

## Read by commodity

- DXY: bullish ▲
- EURUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2024-04-18 | [US dollar gains after strong data, Fed comments on rate cuts](https://feedsoft.ai/events/12555-us-dollar-gains-after-strong-data-fed-comments-on-rate-cuts.md) | -0.1% | -1.4% |
| DXY | 2023-08-31 | [Dollar gains on solid data, euro drops on cautious ECB comments - Markets - Business Recorder](https://feedsoft.ai/events/34781-dollar-gains-on-solid-data-euro-drops-on-cautious-ecb-comments-markets-business.md) | +1.8% | +2.3% |
| DXY | 2023-02-02 | [Oil slumps on economic data, stronger U.S. dollar](https://feedsoft.ai/events/37234-oil-slumps-on-economic-data-stronger-u-s-dollar.md) | +1.3% | +2.1% |
| DXY | 2023-07-27 | [ECB's data-dependent stance weakens euro against U.S. dollar, pushing gold prices to session lows \| Kitco News](https://feedsoft.ai/events/35256-ecb-s-data-dependent-stance-weakens-euro-against-u-s-dollar-pushing-gold-prices.md) | +1.2% | +1.9% |
| DXY | 2021-11-23 | [Dollar gains, euro recovers on better than expected data \| Reuters](https://feedsoft.ai/events/11254-dollar-gains-euro-recovers-on-better-than-expected-data-reuters.md) | +0.5% | +0.4% |
| EURUSD | 2023-08-31 | [Dollar gains on solid data, euro drops on cautious ECB comments - Markets - Business Recorder](https://feedsoft.ai/events/34781-dollar-gains-on-solid-data-euro-drops-on-cautious-ecb-comments-markets-business.md) | -2.0% | -3.2% |
| 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% |
| EURUSD | 2023-07-27 | [ECB's data-dependent stance weakens euro against U.S. dollar, pushing gold prices to session lows \| Kitco News](https://feedsoft.ai/events/35256-ecb-s-data-dependent-stance-weakens-euro-against-u-s-dollar-pushing-gold-prices.md) | -1.3% | -1.9% |

## Sources

- babypips.com: https://www.babypips.com/news/dollar-gains-bets-ecb-weaken-euro-strong-u-s-data

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