# Bond market volatility sees AUD plunge overnight - OFX

> The Australian dollar fell sharply overnight, dropping about 100 points to intraday lows near 0.7710 as bond market volatility drove demand for haven assets. Markets were disappointed by Fed Chair Jerome Powell's comments, which did not signal yield curve management, pushing US 10-year yields above 1%.

- Date: 2021-03-07 · published 2021-03-07T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/48363-bond-market-volatility-sees-aud-plunge-overnight-ofx
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

A weaker Aussie and stronger dollar lift the cost of imported inputs for Australian feed users while making dollar-priced grain exports relatively more competitive, a modest bullish signal for Australian export-linked feed prices.

## Read by commodity

- DXY: bullish ▲
- AUDUSD: bearish ▼
- EURUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2018-12-22 | [Bangkok Post - BLS: Stock market volatility seen in 2019](https://feedsoft.ai/events/61825-bangkok-post-bls-stock-market-volatility-seen-in-2019.md) | -0.6% | -1.4% |
| DXY | 2022-08-30 | [Bank of Korea warns of more market volatility ahead as Fed signals more rate hikes](https://feedsoft.ai/events/40279-bank-of-korea-warns-of-more-market-volatility-ahead-as-fed-signals-more-rate.md) | +1.1% | +4.0% |
| DXY | 2021-11-24 | [Surging dollar awakens volatility in currency markets](https://feedsoft.ai/events/11257-surging-dollar-awakens-volatility-in-currency-markets.md) | -0.1% | -0.2% |
| DXY | 2021-06-18 | [Explaining the volatile stock and bond market moves this week following the Fed's update](https://feedsoft.ai/events/5932-explaining-the-volatile-stock-and-bond-market-moves-this-week-following-the-fed.md) | -0.2% | +0.4% |
| DXY | 2022-09-28 | [Bank of England moves to calm bond market rout after tax cut storm](https://feedsoft.ai/events/39828-bank-of-england-moves-to-calm-bond-market-rout-after-tax-cut-storm.md) | -1.8% | -1.5% |
| EURUSD | 2023-10-31 | [Morning Bid: Japan's dramatic FX, bond market divergence](https://feedsoft.ai/events/33868-morning-bid-japan-s-dramatic-fx-bond-market-divergence.md) | +1.2% | +3.3% |
| EURUSD | 2025-01-24 | [Bond Market Selloff and Trump Concerns \| Global Banking & Finance Review](https://feedsoft.ai/events/12679-bond-market-selloff-and-trump-concerns-global-banking-and-finance-review.md) | 0.0% | +0.3% |
| EURUSD | 2022-08-31 | [Flight to safety: market context ahead of non-farm payrolls - Ghost Mail](https://feedsoft.ai/events/40331-flight-to-safety-market-context-ahead-of-non-farm-payrolls-ghost-mail.md) | -0.8% | -3.4% |

## Sources

- ofx.com: https://www.ofx.com/en-au/forex-news/daily-and-weekly-market-news/2021/03/08/aud-slides-further-against-the-usd/

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