# Aussie stumbles but clings onto 0.77 - OFX (US)

> The Australian dollar fell to 0.7677 on Friday, its lowest since early May, before recovering slightly. The decline was attributed to a stronger US dollar and a drop in iron ore futures, with the RBA meeting ahead.

- Date: 2021-05-30 · published 2021-05-30T12:00:00.000Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/47334-aussie-stumbles-but-clings-onto-0-77-ofx-us
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

A weaker AUD supports Australian export competitiveness for grains and barley, while the iron ore drop signals softer Chinese industrial demand.

## Read by commodity

- AUDUSD: bearish ▼

## Sources

- ofx.com: https://www.ofx.com/en-us/forex-news/daily-and-weekly-market-news/2021/05/31/aussie-stumbles-but-clings-onto-077/

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