# Australian Dollar strengthens further following US PCE figures — Octa

> The Australian dollar rose against the US dollar after US PCE inflation for May came in softer than expected at 2.6% year on year, matching forecasts. Traders raised expectations of a more dovish Federal Reserve. Market pricing also showed roughly 40% odds of an RBA rate hike in September.

- Date: 2024-06-28 · published 2024-06-28T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/30055-australian-dollar-strengthens-further-following-us-pce-figures-octa
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Softer US inflation weakens the dollar and can lift dollar-denominated commodity prices, while a firmer Aussie tends to support Australian export values. The move mainly reflects rate-policy divergence rather than any change in grain or oilseed supply.

## Read by commodity

- DXY: bearish ▼
- AUDUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2026-07-31 | [Australian Dollar gathers strength above 0.7000 amid softer US GDP data](https://feedsoft.ai/events/18595-australian-dollar-gathers-strength-above-0-7000-amid-softer-us-gdp-data.md) | -0.1% | -1.1% |
| DXY | 2026-04-30 | [CAD Strengthens Following North American GDP Data](https://feedsoft.ai/events/19936-cad-strengthens-following-north-american-gdp-data.md) | -0.8% | -0.1% |
| DXY | 2025-07-05 | [Colombian Peso Strengthens as US Dollar Continues to Decline](https://feedsoft.ai/events/24064-colombian-peso-strengthens-as-us-dollar-continues-to-decline.md) | +0.6% | +1.7% |
| DXY | 2023-12-22 | [Peso strengthens to best rate against the US dollar since August](https://feedsoft.ai/events/32933-peso-strengthens-to-best-rate-against-the-us-dollar-since-august.md) | -0.8% | +1.5% |
| DXY | 2024-03-20 | [Dollar weakens after Fed meeting, yen strengthens](https://feedsoft.ai/events/31389-dollar-weakens-after-fed-meeting-yen-strengthens.md) | +0.1% | +1.8% |

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/1105890/

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