# AUD/USD recovers as weaker US GDP sparks US yields drop — Octa

> US first-quarter GDP was revised to 1.3% growth, below the 1.6% expected, and pending home sales fell sharply in April. US Treasury yields and the dollar dropped, lifting the Australian dollar to about 0.6632.

- Date: 2024-05-31 · published 2024-05-31T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/30529-aud-usd-recovers-as-weaker-us-gdp-sparks-us-yields-drop-octa
- 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 dollar and lower US yields tend to support dollar-priced commodities, including feed grains and oilseeds, by making them cheaper for foreign buyers.

## Read by commodity

- DXY: bearish ▼
- AUDUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-11-28 | [Dollar weakens as U.S. bond yields drop](https://feedsoft.ai/events/38899-dollar-weakens-as-u-s-bond-yields-drop.md) | -1.1% | -1.1% |
| DXY | 2018-12-04 | [Dollar drops as treasury yield curve inversion sparks recession fears](https://feedsoft.ai/events/6926-dollar-drops-as-treasury-yield-curve-inversion-sparks-recession-fears.md) | +0.7% | -0.4% |
| DXY | 2019-08-29 | [USD/JPY holds weaker below 106.00 handle, US GDP in focus — Octa](https://feedsoft.ai/events/57810-usd-jpy-holds-weaker-below-106-00-handle-us-gdp-in-focus-octa.md) | -0.3% | -0.1% |
| DXY | 2018-01-23 | [Five factors why US yields aren’t driving USD - Nomura — Octa](https://feedsoft.ai/events/11864-five-factors-why-us-yields-aren-t-driving-usd-nomura-octa.md) | -0.9% | -0.4% |
| DXY | 2026-07-30 | [US Dollar: Real yields drive correction risk – ING — Octa](https://feedsoft.ai/events/18551-us-dollar-real-yields-drive-correction-risk-ing-octa.md) | -1.2% | -1.9% |

## Sources

- octabroker.com: https://www.octabroker.com/markets/news/view/1102021/

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