# Australian dollar crushed under US megaboom | Investing.com AU

> The Australian dollar was weighed down as the US dollar index eased while US data remained strong and Fed officials signaled no rush to cut rates. Commentary described yields rising, stocks firming and a flat tone across commodity and emerging markets.

- Date: 2024-02-27 · published 2024-02-27T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/31928-australian-dollar-crushed-under-us-megaboom-investing-com-au
- 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 firmer US dollar and higher US yields tend to pressure dollar-denominated grain and oilseed prices and reduce demand from Australian buyers, while a softer AUD can make Australian barley and wheat more competitive.

## Read by commodity

- DXY: bullish ▲
- AUDUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-10-24 | [The US Dollar is much stronger - how will it impact the Australian economy? \| Investing.com AU](https://feedsoft.ai/events/39396-the-us-dollar-is-much-stronger-how-will-it-impact-the-australian-economy.md) | -0.4% | -2.3% |
| DXY | 2018-02-28 | [Will the Australian dollar get crushed as US interest rates storm higher? - ABC News](https://feedsoft.ai/events/66746-will-the-australian-dollar-get-crushed-as-us-interest-rates-storm-higher-abc.md) | -0.1% | -0.5% |
| DXY | 2018-06-26 | [The US Dollar's Weakness Saved The Aussie From Retesting Its Lows \| Investing.com AU](https://feedsoft.ai/events/64775-the-us-dollar-s-weakness-saved-the-aussie-from-retesting-its-lows-investing-com.md) | +0.8% | -0.1% |
| DXY | 2017-05-03 | [Dollar, June Rate-Hike Odds Soar \| Investing.com AU](https://feedsoft.ai/events/70921-dollar-june-rate-hike-odds-soar-investing-com-au.md) | +0.6% | -1.2% |
| DXY | 2022-09-28 | [US dollar ‘wrecking ball’ stares down Australian dollar](https://feedsoft.ai/events/39835-us-dollar-wrecking-ball-stares-down-australian-dollar.md) | -1.8% | -1.5% |

## Sources

- au.investing.com: https://au.investing.com/analysis/australian-dollar-crushed-under-us-megaboom-200590981

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