# Smaller Biden stimulus lifts Australian dollar - MacroBusiness

> The US dollar index fell after a weaker-than-expected ECB and Fed backdrop, while the euro jumped. The Australian dollar rose as a result, and oil fell on expectations of a new Iran deal. Analysts also noted a smaller US stimulus package.

- Date: 2021-10-28 · published 2021-10-28T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/44820-smaller-biden-stimulus-lifts-australian-dollar-macrobusiness
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

A weaker dollar generally supports US commodity prices in dollar terms, and a firmer Aussie adds to Australian export competitiveness dynamics for grain and oilseed buyers.

## Read by commodity

- DXY: bearish ▼
- AUDUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2017-08-30 | [CBA: Australian dollar on its way to 85 cents - MacroBusiness](https://feedsoft.ai/events/69701-cba-australian-dollar-on-its-way-to-85-cents-macrobusiness.md) | -0.6% | +0.9% |
| DXY | 2019-04-29 | [Goldman turns nonsensical on the Australian dollar - MacroBusiness](https://feedsoft.ai/events/59835-goldman-turns-nonsensical-on-the-australian-dollar-macrobusiness.md) | -0.2% | +0.5% |
| 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 | 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 | 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% |

## Sources

- macrobusiness.com.au: https://www.macrobusiness.com.au/2021/10/smaller-biden-stimulus-lifts-australian-dollar/

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