# AUD/USD clings to gains near 0.6800 as RBA unlikely to cut interest rates this year

> The Australian dollar held near 0.6800 after monthly CPI for July eased to 3.5% from 3.8% but came in above the 3.5% forecast. The result kept hopes alive that the RBA would hold its 4.35% cash rate steady for the rest of the year.

- Date: 2024-08-28 · published 2024-08-28T12:00:00.000Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/29057-aud-usd-clings-to-gains-near-0-6800-as-rba-unlikely-to-cut-interest-rates-this
- 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 Australian rates support the AUD, a currency that tracks commodity demand, while a softer USD lifts dollar-priced commodities for buyers outside the US.

## Read by commodity

- DXY: bearish ▼
- AUDUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2019-10-31 | [Gold gains as dollar weakens after Fed's interest rate cut](https://feedsoft.ai/events/56483-gold-gains-as-dollar-weakens-after-fed-s-interest-rate-cut.md) | -0.1% | +0.8% |
| DXY | 2024-02-20 | [Korean Won, Chinese Yuan Set to Gain as US Interest Rates Expected to Drop](https://feedsoft.ai/events/31906-korean-won-chinese-yuan-set-to-gain-as-us-interest-rates-expected-to-drop.md) | -0.1% | -0.5% |
| DXY | 2019-03-26 | [It's not too soon for a Fed interest rate cut, according to this chart](https://feedsoft.ai/events/59994-it-s-not-too-soon-for-a-fed-interest-rate-cut-according-to-this-chart.md) | +0.5% | +0.3% |
| DXY | 2020-06-10 | [Fed sees interest rates staying near zero through 2022, GDP bouncing to 5% next year](https://feedsoft.ai/events/52518-fed-sees-interest-rates-staying-near-zero-through-2022-gdp-bouncing-to-5-next.md) | +0.8% | +0.8% |
| DXY | 2026-04-30 | [AUD/USD jumps near 0.7200 as Japan’s intervention sinks the USD - Bytes Europe](https://feedsoft.ai/events/19979-aud-usd-jumps-near-0-7200-as-japan-s-intervention-sinks-the-usd-bytes-europe.md) | -0.8% | -0.1% |

## Sources

- fxstreet.com: https://www.fxstreet.com/news/aud-usd-clings-to-gains-near-06800-as-rba-unlikely-to-cut-interest-rates-this-year-202408280949

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