# Australian Dollar gathers strength above 0.7000 amid softer US GDP data

> The AUD/USD pair rose to about 0.7035 in early Friday trade, its highest since mid-June. Markets fully priced in one more RBA hike this year, while US Q2 GDP grew 1.5%, below the 2.1% expected. Tensions in the Middle East were also cited as a potential safe-haven support for the dollar.

- Date: 2026-07-31 · published 2026-07-31T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/18595-australian-dollar-gathers-strength-above-0-7000-amid-softer-us-gdp-data
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

Softer US growth and a weaker dollar modestly support dollar-denominated commodity prices and Australian export demand. The effect on feed grain prices is limited.

## Read by commodity

- DXY: bearish ▼
- AUDUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2024-06-28 | [Australian Dollar strengthens further following US PCE figures — Octa](https://feedsoft.ai/events/30055-australian-dollar-strengthens-further-following-us-pce-figures-octa.md) | -0.7% | -0.5% |
| DXY | 2025-11-06 | [Dollar weakens amid soft labor US data \| Reuters](https://feedsoft.ai/events/22157-dollar-weakens-amid-soft-labor-us-data-reuters.md) | -0.9% | -1.0% |
| DXY | 2026-07-30 | [Australian Dollar rallies despite softer CPI as US Dollar tumbles after Fed, weaker data](https://feedsoft.ai/events/18598-australian-dollar-rallies-despite-softer-cpi-as-us-dollar-tumbles-after-fed.md) | -1.2% | -1.9% |
| DXY | 2017-06-29 | [Global tailwinds blow Australian dollar above US77c](https://feedsoft.ai/events/70767-global-tailwinds-blow-australian-dollar-above-us77c.md) | +0.3% | -1.7% |
| DXY | 2019-09-30 | [Dollar falters after soft US manufacturing data](https://feedsoft.ai/events/57297-dollar-falters-after-soft-us-manufacturing-data.md) | -0.2% | -1.4% |

## Sources

- fxstreet.com: https://www.fxstreet.com/news/australian-dollar-gathers-strength-above-07000-amid-softer-us-gdp-data-202607310654

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