# AUD/USD rebounds on stronger inflation release | MarketPulse by OANDA Group

> The Australian dollar rose about 0.9% to around 0.6708 against the US dollar after a monthly inflation gauge rose 0.8%. Money markets gave only a 14% chance of an RBA rate hike at the upcoming meeting.

- Date: 2023-07-31 · published 2023-07-31T12:00:00.000Z
- Category: market · region Australia · magnitude low
- Page: https://feedsoft.ai/events/35306-aud-usd-rebounds-on-stronger-inflation-release-marketpulse-by-oanda-group
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

A firmer Aussie dollar slightly lifts the cost of Australian grain and meat exports to dollar-based buyers, though the effect on feed prices is minor.

## Read by commodity

- AUDUSD: bullish ▲

## Sources

- marketpulse.com: https://www.marketpulse.com/news/audusd-rebounds-on-stronger-inflation-release/

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