# Australian dollar pinned near fresh 11-mth low, support shaky  - The Business Times

> The Australian dollar hovered near US$0.6367 after touching a fresh 11-month low of US$0.6332 as a key support level gave way. The move followed a sharp rise in Treasury yields and soft Australian retail sales and job vacancy data. Traders saw the data supporting an extended RBA rate pause.

- Date: 2023-09-28 · published 2023-09-28T12:00:00.000Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/34380-australian-dollar-pinned-near-fresh-11-mth-low-support-shaky-the-business-times
- 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 weaker Aussie and stronger dollar make Australian grain and feed exports more competitive on world markets, which can weigh on feed grain prices. The move reflects global rate expectations rather than a change in feed supply.

## Read by commodity

- DXY: bullish ▲
- AUDUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2016-11-13 | [Australia, NZ dollars hit 1-month lows as USD, US bond yields surge - The Business Times](https://feedsoft.ai/events/74098-australia-nz-dollars-hit-1-month-lows-as-usd-us-bond-yields-surge-the-business.md) | +1.4% | +0.8% |
| DXY | 2017-01-05 | [Australia, NZ dollars seen down slightly this year: poll - The Business Times](https://feedsoft.ai/events/73258-australia-nz-dollars-seen-down-slightly-this-year-poll-the-business-times.md) | +0.1% | -2.7% |
| DXY | 2017-11-29 | [Canadian dollar hits near 4-week low versus firmer US$ - The Business Times](https://feedsoft.ai/events/68198-canadian-dollar-hits-near-4-week-low-versus-firmer-us-the-business-times.md) | +0.2% | +0.5% |
| 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 | 2022-01-26 | [Australian dollar nears one-month low as the US dollar surges and the mood darkens](https://feedsoft.ai/events/43385-australian-dollar-nears-one-month-low-as-the-us-dollar-surges-and-the-mood.md) | +0.2% | -0.4% |

## Sources

- businesstimes.com.sg: https://www.businesstimes.com.sg/international/australian-dollar-pinned-near-fresh-11-mth-low-support-shaky

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