# US dollar rises as strong service sector data muddles Fed easing this year

> The US dollar drifted higher on June 5, 2024 after US services sector data showed a rebound in May following contraction in April. The result added uncertainty about when the Federal Reserve would start easing.

- Date: 2024-06-05 · published 2024-06-05T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/8478-us-dollar-rises-as-strong-service-sector-data-muddles-fed-easing-this-year
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Stronger US services activity supports Fed patience on rate cuts, which underpins the dollar and modestly pressures dollar-priced commodities.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2024-04-10 | [Dollar Surges as a Hot US CPI Report Dampens Fed Rate Cut Expectations](https://feedsoft.ai/events/12560-dollar-surges-as-a-hot-us-cpi-report-dampens-fed-rate-cut-expectations.md) | +2.0% | +1.2% |
| DXY | 2019-12-06 | [Dollar gains after stronger-than-expected U.S. jobs report \| Reuters](https://feedsoft.ai/events/55796-dollar-gains-after-stronger-than-expected-u-s-jobs-report-reuters.md) | -0.4% | -1.1% |
| DXY | 2018-07-11 | [U.S. producer inflation rises on strong services gains \| Reuters](https://feedsoft.ai/events/63949-u-s-producer-inflation-rises-on-strong-services-gains-reuters.md) | +0.5% | +0.4% |
| DXY | 2026-08-26 | [Euro comes under pressure against US Dollar after mixed US PCE data](https://feedsoft.ai/events/18103-euro-comes-under-pressure-against-us-dollar-after-mixed-us-pce-data.md) | +0.4% | +1.6% |
| DXY | 2026-06-25 | [Euro stabilizes near 13-month lows against the US Dollar after in-line US inflation data](https://feedsoft.ai/events/19034-euro-stabilizes-near-13-month-lows-against-the-us-dollar-after-in-line-us.md) | -0.2% | -0.4% |

## Sources

- reuters.com: https://www.reuters.com/markets/currencies/dollar-finds-footing-traders-turn-us-services-data-2024-06-05/

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