# AUD range bound ahead of key inflation data and Fed policy update - OFX (NZ)

> The Australian dollar slipped below US$0.66 after stronger-than-expected US jobs data lifted Treasury yields and the dollar. Traders were positioned ahead of Australia's Q4 CPI release and the Fed policy decision, with the AUD expected to trade between US$0.65 and US$0.67.

- Date: 2024-01-30 · published 2024-01-30T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/32399-aud-range-bound-ahead-of-key-inflation-data-and-fed-policy-update-ofx-nz
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Currency moves are driven by rate expectations in the US and Australia, and a firmer dollar generally weighs on dollar-denominated commodity prices. The effect on feed markets is modest for this range-bound pattern.

## Read by commodity

- DXY: bullish ▲
- AUDUSD: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2018-08-29 | [Euro US Dollar Exchange Rate Live: EUR/USD <1.17 Handle Ahead Of Eurozone Inflation](https://feedsoft.ai/events/63737-euro-us-dollar-exchange-rate-live-eur-usd-and-lt-1-17-handle-ahead-of-eurozone.md) | +1.2% | +0.3% |
| DXY | 2021-05-28 | [Dollar Edges Up Ahead Of Inflation Data; Yen Falls - Market News Nigeria](https://feedsoft.ai/events/47357-dollar-edges-up-ahead-of-inflation-data-yen-falls-market-news-nigeria.md) | -0.1% | +1.0% |
| DXY | 2022-06-10 | [Rand slumps almost 3% as hot US inflation data backs case for Fed rate hikes \| News24](https://feedsoft.ai/events/41269-rand-slumps-almost-3-as-hot-us-inflation-data-backs-case-for-fed-rate-hikes.md) | +1.5% | +3.7% |
| DXY | 2023-03-07 | [AUD tumbles on heels of divergent RBA and Fed policy outlooks - OFX (US)](https://feedsoft.ai/events/37125-aud-tumbles-on-heels-of-divergent-rba-and-fed-policy-outlooks-ofx-us.md) | +0.3% | -1.0% |
| DXY | 2023-08-31 | [USD/CAD delivers modest recovery ahead of core PCE Inflation data — Octa](https://feedsoft.ai/events/34817-usd-cad-delivers-modest-recovery-ahead-of-core-pce-inflation-data-octa.md) | +1.8% | +2.3% |

## Sources

- ofx.com: https://www.ofx.com/en-nz/forex-news/daily-and-weekly-market-news/2024/01/31/australian-dollar-range-bound-ahead-of-key-inflation-data-and-fed-policy-update/

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