# Australian Dollar Flies after Powell Speech - ActionForex

> The Australian dollar climbed 1.5% on Wednesday after Fed Chair Jerome Powell signaled a slower pace of rate hikes at the December 14 meeting. Markets priced a 50-basis-point hike at about 80%, and the US dollar fell broadly, while the Australian dollar reached 10-week highs.

- Date: 2022-12-01 · published 2022-12-01T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/38489-australian-dollar-flies-after-powell-speech-actionforex
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

Expectations of a smaller Fed hike weaken the dollar and lift dollar-priced commodities and currencies such as the Australian dollar, which can support export prices for grains and meals.

## Read by commodity

- DXY: bearish ▼
- AUDUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2019-02-02 | [Dollar Down But Not Out after Fed, Oil Lifted Canadian, Iron Ore Boosted Australian - ActionForex](https://feedsoft.ai/events/60507-dollar-down-but-not-out-after-fed-oil-lifted-canadian-iron-ore-boosted.md) | +0.7% | +0.9% |
| DXY | 2021-07-29 | [Dollar Falls Broadly after Fed, Q2 GDP Next - ActionForex](https://feedsoft.ai/events/46247-dollar-falls-broadly-after-fed-q2-gdp-next-actionforex.md) | -0.3% | +0.4% |
| DXY | 2026-07-30 | [Australian Dollar rallies despite softer CPI as US Dollar tumbles after Fed, weaker data](https://feedsoft.ai/events/18598-australian-dollar-rallies-despite-softer-cpi-as-us-dollar-tumbles-after-fed.md) | -1.2% | -1.9% |
| DXY | 2022-12-01 | [Australian dollar races up after US Federal Reserve chairman Jerome Powell hints at smaller rate increases](https://feedsoft.ai/events/38484-australian-dollar-races-up-after-us-federal-reserve-chairman-jerome-powell.md) | -0.6% | -1.5% |
| DXY | 2017-07-27 | [Dollar Selloff Resumed after FOMC, Commodity Currencies the Best Performers - ActionForex](https://feedsoft.ai/events/69895-dollar-selloff-resumed-after-fomc-commodity-currencies-the-best-performers.md) | -0.6% | -0.5% |

## Sources

- actionforex.com: https://www.actionforex.com/contributors/fundamental-analysis/475625-australian-dollar-flies-after-powell-speech/

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