# US economic strength fuelling USD upside, pressuring AUD/USD and NZD/USD

> US growth data has been consistently beating forecasts, prompting markets to pare Fed rate cut bets and lifting the US dollar. AUD/USD and NZD/USD have fallen as a result, with nonfarm payrolls and PCE inflation key data points ahead.

- Date: 2024-10-31 · published 2024-10-31T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/28122-us-economic-strength-fuelling-usd-upside-pressuring-aud-usd-and-nzd-usd
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

Stronger US rates and dollar reduce the appeal of dollar-priced commodities for foreign buyers, a mild bearish factor for US export prices and a bullish factor for importers' local-currency costs.

## Read by commodity

- DXY: bullish ▲
- AUDUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2021-03-30 | [US economy strength keeps pressure on yuan](https://feedsoft.ai/events/48335-us-economy-strength-keeps-pressure-on-yuan.md) | -0.5% | -1.9% |
| DXY | 2019-09-20 | [Ringgit under pressure from dollar strength and divided Fed](https://feedsoft.ai/events/57341-ringgit-under-pressure-from-dollar-strength-and-divided-fed.md) | +0.5% | -0.8% |
| DXY | 2024-01-30 | [Loonie Dips Amid US Dollar Strength; Eyes Fed Rate Decision, Economic Data](https://feedsoft.ai/events/32337-loonie-dips-amid-us-dollar-strength-eyes-fed-rate-decision-economic-data.md) | +0.4% | +0.1% |
| DXY | 2024-11-01 | [US election pressures and data drive AUD/USD to a four-week low](https://feedsoft.ai/events/28121-us-election-pressures-and-data-drive-aud-usd-to-a-four-week-low.md) | -0.0% | +1.9% |
| DXY | 2021-06-18 | [Fed surprise points to further dollar strength \| Capital Economics](https://feedsoft.ai/events/5931-fed-surprise-points-to-further-dollar-strength-capital-economics.md) | -0.2% | +0.4% |

## Sources

- forex.com: https://www.forex.com/en-us/news-and-analysis/us-economic-strength-fuelling-usd-upside-pressuring-aud-usd-and-nzd-usd/

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