# Australia, NZ dollars rally for second week, bond yields tumble - Markets - Business Recorder

> The Australian and New Zealand dollars were set for a second weekly gain as Australian government bond yields tumbled, with three-year yields down 41 basis points to 2.73%. Markets scaled back rate hike bets after Australian inflation failed to surprise, and US Q2 GDP contracted 0.9%, raising recession concerns.

- Date: 2022-07-29 · published 2022-07-29T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/40738-australia-nz-dollars-rally-for-second-week-bond-yields-tumble-markets-business
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

Weaker rate expectations and a softer US dollar shift currency flows that affect commodity export competitiveness and risk appetite, with limited direct impact on feed grain prices.

## Read by commodity

- DXY: bearish ▼
- AUDUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2021-04-16 | [Australia, NZ dollars set for strong weekly gains as US dollar sags - Markets - Business Recorder](https://feedsoft.ai/events/47856-australia-nz-dollars-set-for-strong-weekly-gains-as-us-dollar-sags-markets.md) | -0.3% | -0.9% |
| DXY | 2020-12-30 | [Australian, NZ dollars on the rise as US$ crumbles - Markets - Business Recorder](https://feedsoft.ai/events/49897-australian-nz-dollars-on-the-rise-as-us-crumbles-markets-business-recorder.md) | -0.6% | +0.4% |
| DXY | 2022-01-13 | [Australia, NZ dollars look to break higher as US$ retreats - Markets - Business Recorder](https://feedsoft.ai/events/43388-australia-nz-dollars-look-to-break-higher-as-us-retreats-markets-business.md) | +0.1% | +0.2% |
| DXY | 2023-05-22 | [Australia, NZ dollars get a reprieve after dovish Powell, await RBNZ - Markets - Business Recorder](https://feedsoft.ai/events/36206-australia-nz-dollars-get-a-reprieve-after-dovish-powell-await-rbnz-markets.md) | +0.7% | -0.7% |
| DXY | 2021-08-31 | [Dollar falls to more than 3-week low with payrolls eyed - Markets - Business Recorder](https://feedsoft.ai/events/45752-dollar-falls-to-more-than-3-week-low-with-payrolls-eyed-markets-business.md) | -0.2% | +0.9% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40188913

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