# Australian dollar to fall on strong US jobs - MacroBusiness

> Goldman Sachs expects the Australian dollar to fall on strong US jobs data, after US unemployment fell to 3.7% in November. The analysis argues the US economy will outperform consensus and that markets are pricing too many early rate cuts.

- Date: 2023-12-10 · published 2023-12-10T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/32982-australian-dollar-to-fall-on-strong-us-jobs-macrobusiness
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A firmer US dollar outlook would pressure dollar-denominated commodity prices and reduce the appeal of Australian-linked trade, so the view matters for feed price direction if it proves correct.

## Read by commodity

- DXY: bullish ▲
- AUDUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2018-02-27 | [Bill Evans: Australian dollar falls delayed - MacroBusiness](https://feedsoft.ai/events/66749-bill-evans-australian-dollar-falls-delayed-macrobusiness.md) | +0.1% | -0.1% |
| DXY | 2018-04-30 | [Australian dollar downgrades flow - MacroBusiness](https://feedsoft.ai/events/65760-australian-dollar-downgrades-flow-macrobusiness.md) | +1.0% | +2.2% |
| DXY | 2022-03-31 | [Searing hot Australian dollar begins to cool - MacroBusiness](https://feedsoft.ai/events/42516-searing-hot-australian-dollar-begins-to-cool-macrobusiness.md) | +0.8% | +3.8% |
| DXY | 2022-08-29 | [Time to short the US dollar? - MacroBusiness](https://feedsoft.ai/events/40297-time-to-short-the-us-dollar-macrobusiness.md) | +0.6% | +4.4% |
| DXY | 2019-07-31 | [Australian dollar crushed to post-GFC low as Fed disapoints - MacroBusiness](https://feedsoft.ai/events/58378-australian-dollar-crushed-to-post-gfc-low-as-fed-disapoints-macrobusiness.md) | +0.9% | +1.8% |

## Sources

- macrobusiness.com.au: https://www.macrobusiness.com.au/2023/12/australian-dollar-to-fall-on-strong-us-jobs/

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