# AUD/USD stumbles on expectations for a Fed pivot after softer US inflation data — Octa

> The Australian dollar slipped below 0.6700 as the US dollar recovered on quarter-end flows. US core PCE inflation came in at 4.6% year on year, below forecasts, and University of Michigan sentiment fell to 62.

- Date: 2023-03-31 · published 2023-03-31T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/37122-aud-usd-stumbles-on-expectations-for-a-fed-pivot-after-softer-us-inflation-data
- 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 dollar on expectations of a Fed pivot tends to ease pressure on dollar-priced commodities, while softer US inflation supports a slower tightening path.

## Read by commodity

- DXY: bearish ▼
- AUDUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-04-12 | [Oil rises 2% on lower-than-expected US inflation data \| Reuters](https://feedsoft.ai/events/36559-oil-rises-2-on-lower-than-expected-us-inflation-data-reuters.md) | -0.4% | -0.6% |
| DXY | 2017-08-29 | [USD: Guided by the Fed’s expectations - BBH — Octa](https://feedsoft.ai/events/69639-usd-guided-by-the-fed-s-expectations-bbh-octa.md) | -0.3% | +0.5% |
| DXY | 2022-09-30 | [Dollar gains on euro after inflation data, sterling falls](https://feedsoft.ai/events/39798-dollar-gains-on-euro-after-inflation-data-sterling-falls.md) | -0.2% | -0.3% |
| DXY | 2022-12-14 | [EUR/USD Turns to the Fed & the ECB, After Tuesday’s Jump on Softer US CPI Inflation \| FXCM Markets](https://feedsoft.ai/events/38442-eur-usd-turns-to-the-fed-and-the-ecb-after-tuesday-s-jump-on-softer-us-cpi.md) | +0.2% | -2.0% |
| DXY | 2022-11-10 | [AUD lurches higher following softer US inflation pressures - OFX](https://feedsoft.ai/events/38928-aud-lurches-higher-following-softer-us-inflation-pressures-ofx.md) | -1.6% | -2.8% |

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/1033480/

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