# AUD rebounds on heels of Chinese stimulus - OFX

> The Australian dollar rallied about 1% to above US$0.67 on Monday after reports that China's planning agency would remove consumption restrictions and support the property market. The move lifted demand for commodity-linked currencies.

- Date: 2023-07-31 · published 2023-07-31T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/35309-aud-rebounds-on-heels-of-chinese-stimulus-ofx
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

Chinese stimulus signals support demand for Australian commodities, which can firm grain and meat export values, though the effect is modest.

## Read by commodity

- AUDUSD: bullish ▲

## Sources

- ofx.com: https://www.ofx.com/en-au/forex-news/daily-and-weekly-market-news/2023/08/01/aud-rebounds-on-heels-of-chinese-stimulus/

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