# Australia, NZ dlrs back in familiar range after choppy response to Fed - Business & Finance - Business Recorder

> The Australian and New Zealand dollars returned to their recent trading ranges after a choppy reaction to Fed Chair Powell's comments that rates had peaked but March was not the base case for a cut. Traders still expected sizeable US rate cuts later in the year.

- Date: 2024-02-02 · published 2024-02-02T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/31931-australia-nz-dlrs-back-in-familiar-range-after-choppy-response-to-fed-business
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Expectations of US rate cuts keep the dollar pressured, which supports dollar-priced commodities, while the Aussie's range-bound move limits the impact on Australian export competitiveness.

## Read by commodity

- DXY: neutral
- AUDUSD: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2021-07-13 | [Australia, NZ dollars steady, benefit from weaker US dollar - Markets - Business Recorder](https://feedsoft.ai/events/46321-australia-nz-dollars-steady-benefit-from-weaker-us-dollar-markets-business.md) | +0.7% | +0.6% |
| DXY | 2023-12-08 | [Bank of England to hold its line against rate cut talk - Business & Finance - Business Recorder](https://feedsoft.ai/events/32954-bank-of-england-to-hold-its-line-against-rate-cut-talk-business-and-finance.md) | -0.9% | -1.1% |
| DXY | 2022-01-29 | [Sterling close to 23-month high versus euro - Business & Finance - Business Recorder](https://feedsoft.ai/events/43377-sterling-close-to-23-month-high-versus-euro-business-and-finance-business.md) | -0.8% | -0.7% |
| DXY | 2021-03-19 | [Dollar pauses as traders weigh Fed's dovish stance - Markets - Business Recorder](https://feedsoft.ai/events/48315-dollar-pauses-as-traders-weigh-fed-s-dovish-stance-markets-business-recorder.md) | +1.1% | -0.1% |
| DXY | 2026-08-18 | [Dollar Range-Bound as Markets Await Dovish Fed Response \| Finance News](https://feedsoft.ai/events/17810-dollar-range-bound-as-markets-await-dovish-fed-response-finance-news.md) | -0.4% | +0.1% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40286933

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