# US election pressures and data drive AUD/USD to a four-week low

> AUD/USD is down for a fourth straight week after strong US data reduced expectations for aggressive Federal Reserve rate cuts. The pair is on track for its worst month since September 2022 ahead of the US election and Australian CPI.

- Date: 2024-11-01 · published 2024-11-01T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/28121-us-election-pressures-and-data-drive-aud-usd-to-a-four-week-low
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Firmer US rate expectations lift the dollar, which tends to pressure dollar-priced commodities and can shift export competitiveness between US and Australian grain.

## Read by commodity

- DXY: bullish ▲
- AUDUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-06-13 | [Euro sharpens decline to four-week low](https://feedsoft.ai/events/9635-euro-sharpens-decline-to-four-week-low.md) | +1.0% | +2.9% |
| DXY | 2026-05-28 | [Australian dollar holds near weekly low vs USD; eyes US PCE data](https://feedsoft.ai/events/19503-australian-dollar-holds-near-weekly-low-vs-usd-eyes-us-pce-data.md) | +0.2% | +1.6% |
| DXY | 2018-10-25 | [ECB Preview LIVE, Analyst Views And Exchange Rate Reaction: EUR/USD Plunges To Lows Of 1.1356](https://feedsoft.ai/events/62759-ecb-preview-live-analyst-views-and-exchange-rate-reaction-eur-usd-plunges-to.md) | +1.0% | +0.9% |
| DXY | 2021-05-28 | [AUD/USD remains depressed around 0.7720 as focus shifts to US data — Octa](https://feedsoft.ai/events/47338-aud-usd-remains-depressed-around-0-7720-as-focus-shifts-to-us-data-octa.md) | -0.1% | +1.0% |
| DXY | 2017-03-31 | [AUD/USD: under pressure on strong dollar, awaiting Chinese data — Octa](https://feedsoft.ai/events/72248-aud-usd-under-pressure-on-strong-dollar-awaiting-chinese-data-octa.md) | +0.4% | +0.4% |

## Sources

- ig.com: https://www.ig.com/en-ch/news-and-trade-ideas/aud-usd-set-for-biggest-monthly-fall-since-september-2022-241028

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