# Euro extends recent fall, U.S. dollar gains ahead of jobs data

> The euro extended recent declines and hit its lowest level since 2016 against sterling. The dollar index rose as Federal Reserve Chair Jerome Powell said he supported a 25-basis-point rate hike that month. Investors also worried about rising oil prices after Russia's invasion of Ukraine.

- Date: 2022-03-03 · published 2022-03-03T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/8257-euro-extends-recent-fall-u-s-dollar-gains-ahead-of-jobs-data
- Commodities: [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Expectations of Fed tightening strengthen the dollar, which weighs on dollar-priced grain and meal values, while higher oil prices raise energy and freight costs for feed producers.

## Read by commodity

- DXY: bullish ▲
- EURUSD: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| EURUSD | 2022-03-07 | 5 | -3.2% | -3.9 | On 2022-03-03 the euro extended losses while the dollar firmed on Powell's support for a 25bp hike and oil worries, adding to dollar strength and euro weakness. |
| DXY | 2022-03-07 | 5 | +1.8% | 3.1 | Powell's support for a 25bp hike and oil worries pushed the dollar higher on March 3 while the euro weakened. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2022-03-03 | [Euro extends recent fall; dollar gains on data, Powell comments - Business & Finance - Business Recorder](https://feedsoft.ai/events/12081-euro-extends-recent-fall-dollar-gains-on-data-powell-comments-business-and.md) | -0.3% | +0.5% |
| 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 | 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 | 2025-05-22 | [US dollar gains, sentiment still frayed; euro falters \| Reuters](https://feedsoft.ai/events/24909-us-dollar-gains-sentiment-still-frayed-euro-falters-reuters.md) | +0.2% | +1.6% |
| EURUSD | 2024-01-25 | [US dollar gains after GDP data; euro falls to six-week low after dovish ECB, Lagarde \| Reuters](https://feedsoft.ai/events/32033-us-dollar-gains-after-gdp-data-euro-falls-to-six-week-low-after-dovish-ecb.md) | -0.4% | -0.8% |
| DXY | 2022-03-03 | [Euro extends recent fall; dollar gains on data, Powell comments - Business & Finance - Business Recorder](https://feedsoft.ai/events/12081-euro-extends-recent-fall-dollar-gains-on-data-powell-comments-business-and.md) | +0.7% | -0.6% |
| DXY | 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) | +0.7% | -2.5% |
| DXY | 2026-08-31 | [Dollar slips ahead of US jobs data - Markets - Business Recorder](https://feedsoft.ai/events/18078-dollar-slips-ahead-of-us-jobs-data-markets-business-recorder.md) | -0.6% | +1.6% |

## Sources

- reuters.com: https://www.reuters.com/article/business/euro-extends-recent-fall-u-s-dollar-gains-ahead-of-jobs-data-idUSNIKBN2L0038/

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