# Wild swings as inflation data and Central bank updates drive volatility - OFX

> The Australian dollar swung sharply after Australian inflation data came in largely in line but with a softer trimmed mean measure, removing the risk of another RBA hike. The AUD fell below US$0.65 before recovering after a dovish-leaning Fed meeting that left a September cut fully priced.

- Date: 2024-07-31 · published 2024-07-31T12:00:00.000Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/29535-wild-swings-as-inflation-data-and-central-bank-updates-drive-volatility-ofx
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Currency swings in the AUD and US dollar shift export competitiveness for Australian and US commodities, but the moves are largely FX noise for feed grain and meal prices.

## Read by commodity

- DXY: neutral
- AUDUSD: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2017-12-14 | [Bank of England unanimously votes to hold interest rates, shifting focus to inflation](https://feedsoft.ai/events/67720-bank-of-england-unanimously-votes-to-hold-interest-rates-shifting-focus-to.md) | -0.4% | -2.1% |
| DXY | 2021-06-25 | [Dollar steady after U.S. inflation data misses estimates](https://feedsoft.ai/events/46773-dollar-steady-after-u-s-inflation-data-misses-estimates.md) | +0.4% | +1.0% |
| DXY | 2024-08-30 | [FX Daily: US and eurozone inflation in focus \| articles \| ING THINK](https://feedsoft.ai/events/29011-fx-daily-us-and-eurozone-inflation-in-focus-articles-ing-think.md) | +0.2% | -0.9% |
| DXY | 2023-01-30 | [BoE Expected to Hike Rates Amid Central Bank Meetings](https://feedsoft.ai/events/38017-boe-expected-to-hike-rates-amid-central-bank-meetings.md) | +0.5% | +2.1% |
| DXY | 2025-08-30 | [Ringgit steadies as markets eye Bank Negara and US jobs data in first week of Sept \| Malay Mail](https://feedsoft.ai/events/23581-ringgit-steadies-as-markets-eye-bank-negara-and-us-jobs-data-in-first-week-of.md) | -0.1% | -0.1% |

## Sources

- ofx.com: https://www.ofx.com/en-au/forex-news/daily-and-weekly-market-news/2024/08/01/wild-swings-as-inflation-data-and-central-bank-updates-drive-volatility/

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