# US dollar bounces as strong jobs report likely delays Fed easing this year

> The US dollar rebounded on June 7, 2024 after May nonfarm payrolls rose 272,000, well above expectations. The dollar index rose 0.8% to 104.91, its best daily gain since April 10. The strong data suggested the Federal Reserve could delay starting its easing cycle this year.

- Date: 2024-06-07 · published 2024-06-07T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/8474-us-dollar-bounces-as-strong-jobs-report-likely-delays-fed-easing-this-year
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A firmer dollar raises the cost of dollar-priced grain and feed imports for buyers outside the US and tends to pressure US commodity prices. Delayed Fed cuts keep dollar yields high and support the currency.

## Read by commodity

- DXY: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| DXY | 2024-06-07 | 1 | +1.0% | 3.8 | Strong May payrolls (272k) delayed expected Fed easing, lifting US yields and driving the dollar index up 0.8% on the day, its best gain since April. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2017-06-01 | [Dollar bounces back after strong U.S. private sector jobs report \| Reuters](https://feedsoft.ai/events/70726-dollar-bounces-back-after-strong-u-s-private-sector-jobs-report-reuters.md) | -0.4% | -1.1% |
| DXY | 2023-04-07 | [Dollar firms as US jobs report backs Fed hike in May \| Reuters](https://feedsoft.ai/events/36583-dollar-firms-as-us-jobs-report-backs-fed-hike-in-may-reuters.md) | -0.8% | -0.2% |
| DXY | 2025-01-07 | [Dollar firms as solid US data suggests Fed likely to slow easing cycle \| Reuters](https://feedsoft.ai/events/26419-dollar-firms-as-solid-us-data-suggests-fed-likely-to-slow-easing-cycle-reuters.md) | +1.2% | -0.3% |
| DXY | 2016-11-26 | [Dollar Rally Hinges on Fed Moves as Traders Eye Jobs Report Next - Bloomberg](https://feedsoft.ai/events/74018-dollar-rally-hinges-on-fed-moves-as-traders-eye-jobs-report-next-bloomberg.md) | -0.6% | +0.6% |
| DXY | 2024-10-25 | [Dollar advances after data as eyes turn to jobs report \| Reuters](https://feedsoft.ai/events/28049-dollar-advances-after-data-as-eyes-turn-to-jobs-report-reuters.md) | +0.2% | +2.4% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/dollar-hovers-near-8-week-low-payrolls-test-looms-2024-06-07/

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