# AUD steadies in face of escalating inflation concerns - OFX (US)

> The Australian dollar edged lower on Tuesday, failing to hold above US$0.72 amid renewed global inflation concern after a record rise in euro area CPI. Chinese PMI data helped support the currency, but COVID lockdown risks in China were seen as a headwind.

- Date: 2022-05-31 · published 2022-05-31T12:00:00.000Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/41652-aud-steadies-in-face-of-escalating-inflation-concerns-ofx-us
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Weakness in the Aussie combined with China's COVID-related growth risks points to softer demand expectations for Australian commodities, a mild negative for export-linked feed ingredient prices.

## Read by commodity

- DXY: bullish ▲
- AUDUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2018-05-31 | [AUD steady in face of stronger U.S wage growth - OFX (US)](https://feedsoft.ai/events/65255-aud-steady-in-face-of-stronger-u-s-wage-growth-ofx-us.md) | +0.1% | +2.0% |
| DXY | 2021-05-26 | [Equities, dollar rise as Fed officials downplay inflation concerns](https://feedsoft.ai/events/47004-equities-dollar-rise-as-fed-officials-downplay-inflation-concerns.md) | -0.2% | +1.4% |
| DXY | 2026-03-18 | [Gold Tumbles as Powell’s Inflation Concerns Dash Easing Bets](https://feedsoft.ai/events/20074-gold-tumbles-as-powell-s-inflation-concerns-dash-easing-bets.md) | +0.2% | -1.2% |
| DXY | 2022-03-10 | [EMERGING MARKETS-Latam FX falls as dollar gains on inflation data; rouble steadies - Supply Chain Council of European Union \| Scceu.org](https://feedsoft.ai/events/42559-emerging-markets-latam-fx-falls-as-dollar-gains-on-inflation-data-rouble.md) | +0.2% | -0.5% |
| DXY | 2026-03-31 | [GBP/USD Faces Pressure as UK Stagflation Outlook Weighs on Sterling \| Investing.com](https://feedsoft.ai/events/20429-gbp-usd-faces-pressure-as-uk-stagflation-outlook-weighs-on-sterling-investing.md) | -0.7% | -2.3% |

## Sources

- ofx.com: https://www.ofx.com/en-us/forex-news/daily-and-weekly-market-news/2022/06/01/aud-steadies-in-face-of-escalating-inflation-concerns/

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