# RBA interest rates: Australian dollar rally brushes off iron ore price crash

> The Australian dollar recovered nearly all its losses from a July sell-off and rose above US67.30 cents for the first time in a month. The US dollar index fell to its lowest since January 2 as recession fears faded and traders priced in Fed rate cuts.

- Date: 2024-08-20 · published 2024-08-20T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/29062-rba-interest-rates-australian-dollar-rally-brushes-off-iron-ore-price-crash
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

A weaker USD supports dollar-priced commodities for non-US buyers, although the effect on feed prices is modest in this routine market report.

## Read by commodity

- DXY: bearish ▼
- AUDUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2020-08-20 | [Australian Dollar Rebounds on Iron Ore and Gold Rush](https://feedsoft.ai/events/51894-australian-dollar-rebounds-on-iron-ore-and-gold-rush.md) | +0.0% | -1.0% |
| DXY | 2017-07-31 | [Australian Dollar retests 80 U.S. cents - OFX](https://feedsoft.ai/events/70236-australian-dollar-retests-80-u-s-cents-ofx.md) | +0.3% | -0.5% |
| DXY | 2017-06-14 | [Dollar falls after Fed interest rate decision](https://feedsoft.ai/events/10197-dollar-falls-after-fed-interest-rate-decision.md) | +0.6% | -0.9% |
| DXY | 2017-08-31 | [Australian Dollar has 80c in sight - OFX](https://feedsoft.ai/events/69699-australian-dollar-has-80c-in-sight-ofx.md) | -1.4% | +0.8% |
| DXY | 2019-02-02 | [Dollar Down But Not Out after Fed, Oil Lifted Canadian, Iron Ore Boosted Australian - ActionForex](https://feedsoft.ai/events/60507-dollar-down-but-not-out-after-fed-oil-lifted-canadian-iron-ore-boosted.md) | +0.7% | +0.9% |

## Sources

- afr.com: https://www.afr.com/markets/currencies/aussie-dollar-s-rebound-brushes-off-china-woes-20240820-p5k3ol

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