# Australian dollar analysis: AUD/USD drops sharply as US data slows | FOREX.com Singapore

> AUD/USD reversed sharply on May 11, 2023, after US producer prices and jobless claims came in soft and above expectations respectively. The analysis suggests a US economic slowdown could spill into risk-sensitive commodity currencies. The pair had reversed off the 0.6800 area.

- Date: 2023-05-11 · published 2023-05-11T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/36207-australian-dollar-analysis-aud-usd-drops-sharply-as-us-data-slows-forex-com
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

A slowing US economy supports a stronger dollar in risk-off trade and reduces expectations for commodity demand. This is a routine currency commentary with limited direct effect on feed prices.

## Read by commodity

- DXY: bullish ▲
- AUDUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-12-27 | [USD to AUD Forecast: Why The US Dollar Is Strengthening Against The Australian Dollar](https://feedsoft.ai/events/38485-usd-to-aud-forecast-why-the-us-dollar-is-strengthening-against-the-australian.md) | +0.1% | -2.5% |
| DXY | 2026-05-28 | [Australian dollar holds near weekly low vs USD; eyes US PCE data](https://feedsoft.ai/events/19503-australian-dollar-holds-near-weekly-low-vs-usd-eyes-us-pce-data.md) | +0.2% | +1.6% |
| DXY | 2018-12-20 | [Australian dollar sideswiped by Fed, data \| SBS News](https://feedsoft.ai/events/61805-australian-dollar-sideswiped-by-fed-data-sbs-news.md) | -0.1% | -1.1% |
| DXY | 2024-10-30 | [AUD/USD: More Losses Likely as After U.S. GDP, Australian CPI Data \| tastylive](https://feedsoft.ai/events/28124-aud-usd-more-losses-likely-as-after-u-s-gdp-australian-cpi-data-tastylive.md) | -0.2% | +1.6% |
| DXY | 2017-01-13 | [CBA's Australian Dollar Forecasts 2017: USD to Rule but AUD to Advance on EUR, GBP](https://feedsoft.ai/events/73255-cba-s-australian-dollar-forecasts-2017-usd-to-rule-but-aud-to-advance-on-eur-gbp.md) | -0.5% | -1.2% |

## Sources

- forex.com: https://www.forex.com/en-sg/news-and-analysis/australian-dollar-analysis-audusd-drops-sharply-as-us-data-slows/

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