# AUD tests new lows as resistant Covid strain and faster Fed taper crush risk appetite - OFX

> The Australian dollar tested new lows near 0.71 after comments from the Moderna CEO suggested current vaccines may be less effective against Omicron. It then fell further after Fed Chair Powell said faster tapering of asset purchases was appropriate and that inflation was no longer transitory.

- Date: 2021-11-30 · published 2021-11-30T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/44298-aud-tests-new-lows-as-resistant-covid-strain-and-faster-fed-taper-crush-risk
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Risk-off moves and a stronger US dollar tend to pressure dollar-priced commodities and weigh on Australian export currency. For feed buyers, a firmer dollar can lower import costs in local currency for some origins while softening farm-gate prices in exporting countries.

## Read by commodity

- DXY: bullish ▲
- AUDUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2020-09-21 | [Dollar jumps as stocks tumble; rising COVID-19 cases dent risk appetite](https://feedsoft.ai/events/7694-dollar-jumps-as-stocks-tumble-rising-covid-19-cases-dent-risk-appetite.md) | +2.3% | +0.1% |
| DXY | 2021-11-04 | [As Fed kicks off taper, some investors seek to dial down risk](https://feedsoft.ai/events/43954-as-fed-kicks-off-taper-some-investors-seek-to-dial-down-risk.md) | -0.2% | +1.6% |
| DXY | 2018-02-28 | [Will the Australian dollar get crushed as US interest rates storm higher? - ABC News](https://feedsoft.ai/events/66746-will-the-australian-dollar-get-crushed-as-us-interest-rates-storm-higher-abc.md) | -0.1% | -0.5% |
| DXY | 2018-09-26 | [Text of the Fed's statement after its meeting Wednesday \| AP News](https://feedsoft.ai/events/62953-text-of-the-fed-s-statement-after-its-meeting-wednesday-ap-news.md) | +0.2% | +1.5% |
| DXY | 2024-01-31 | [US Tech Sell-Off Challenges Risk Appetites Ahead of the FOMC snbchf.com](https://feedsoft.ai/events/32396-us-tech-sell-off-challenges-risk-appetites-ahead-of-the-fomc-snbchf-com.md) | +0.3% | +0.4% |

## Sources

- ofx.com: https://www.ofx.com/en-au/forex-news/daily-and-weekly-market-news/2021/12/01/aud-tests-new-lows-as-resistant-covid-strain-and-faster-fed-taper-crush-risk-appetite/

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