# AUD/USD remains on backfoot near 0.6550 with Fed policy in focus — Octa

> AUD/USD held near 0.6550 as weak iron ore prices and Chinese economic concerns weighed on the Aussie. The article also flagged the upcoming Australian CPI release and the Fed's expected hold at 5.25%-5.50%, with a dollar recovery adding pressure.

- Date: 2024-07-29 · published 2024-07-29T12:00:00.000Z
- Category: market · region Australia · magnitude low
- Page: https://feedsoft.ai/events/29544-aud-usd-remains-on-backfoot-near-0-6550-with-fed-policy-in-focus-octa
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

Weak iron ore and China demand worries point to lower Australian export earnings and a weaker AUD, a minor bearish factor for commodity prices with little direct feed-grain impact.

## Read by commodity

- AUDUSD: bearish ▼

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/1109954/

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