# 2021 Australian Dollar forecasts upgraded as the AUD soars to new highs - S Money

> Two Australian banks raised their 2021 Australian dollar forecasts, with NAB seeing 80 to 85 US cents and Westpac 82 cents, after the currency hit a 2.5-year high above 76 cents. The article attributes the rise to iron ore prices, a weaker US dollar and improved risk sentiment.

- Date: 2020-12-22 · published 2020-12-22T12:00:00.000Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/49900-2021-australian-dollar-forecasts-upgraded-as-the-aud-soars-to-new-highs-s-money
- Commodities: [Barley](https://feedsoft.ai/c/BARLEY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

A firmer Australian dollar raises the cost of Australian grain and barley in US dollar terms, a mild bullish factor for competing origins.

## Read by commodity

- WHEAT: bullish ▲
- BARLEY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2020-12-22 | [Australian dollar tipped to hit 80 US cents on back of coronavirus recovery and China's demand for steel - ABC News](https://feedsoft.ai/events/49898-australian-dollar-tipped-to-hit-80-us-cents-on-back-of-coronavirus-recovery-and.md) | +0.2% | +7.6% |
| WHEAT | 2018-08-02 | [Australian volume needed as Asia seeks extra 20Mt of wheat - Grain Central](https://feedsoft.ai/events/63425-australian-volume-needed-as-asia-seeks-extra-20mt-of-wheat-grain-central.md) | +3.5% | +1.5% |
| WHEAT | 2026-01-29 | [What the sinking U.S. dollar means to Canada and world](https://feedsoft.ai/events/21288-what-the-sinking-u-s-dollar-means-to-canada-and-world.md) | -0.5% | +3.1% |
| WHEAT | 2022-01-25 | [Dollar near two-week high amid jitters over hawkish Fed, Ukraine](https://feedsoft.ai/events/43324-dollar-near-two-week-high-amid-jitters-over-hawkish-fed-ukraine.md) | -2.1% | -0.8% |
| WHEAT | 2018-01-28 | [U.S. dollar impacts grain prices - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/67028-u-s-dollar-impacts-grain-prices-agweek-1-source-for-agriculture-news-farming.md) | +0.2% | +2.1% |

## Sources

- smoney.com.au: https://www.smoney.com.au/forecasts/2021-australian-dollar-forecasts-upgraded-as-the-aud-soars-to-new-highs/

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