# Aussie breaks past 70 cents for first time since August - Markets - Business Recorder

> The Australian dollar broke above 70 US cents for the first time since August, supported by a weaker US dollar, higher commodity prices tied to China's reopening, and signs that global inflation has peaked. Resistance sits at the August high of $0.7136.

- Date: 2023-01-16 · published 2023-01-16T12:00:00.000Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/38029-aussie-breaks-past-70-cents-for-first-time-since-august-markets-business
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

A stronger Aussie reflects improved China demand prospects for Australian commodities, which is a mildly constructive signal for global commodity sentiment. It has no direct effect on feed grain prices.

## Read by commodity

- AUDUSD: bullish ▲

## Sources

- brecorder.com: https://www.brecorder.com/news/40220445

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