# Month End Balancing forces AUD to give up assault on 0.74 - OFX (US)

> The Australian dollar retreated from a high of 0.7407 as month-end rebalancing and renewed China diplomatic tensions weighed on the currency. Beijing's inflammatory tweet over Australian special forces conduct drew a demand for an apology that was refused. The AUD had gained about 4.5% during November.

- Date: 2020-11-30 · published 2020-11-30T12:00:00.000Z
- Category: geopolitics · region Australia · magnitude low
- Page: https://feedsoft.ai/events/50401-month-end-balancing-forces-aud-to-give-up-assault-on-0-74-ofx-us
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md), [Barley](https://feedsoft.ai/c/BARLEY.md)

## Why it matters

Rising China-Australia tensions raise the risk of trade restrictions on Australian grains and barley, which would shift export flows and pressure AUD-linked prices.

## Read by commodity

- AUDUSD: bearish ▼
- BARLEY: neutral

## Sources

- ofx.com: https://www.ofx.com/en-us/forex-news/daily-and-weekly-market-news/2020/12/01/month-end-balancing-forces-aud-to-give-up-assault-on-074/

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