# Dollar buoyed by upbeat U.S. economic data; Aussie falls

> Australia recorded its worst quarterly economic contraction on record as the coronavirus pushed it into recession. The Australian dollar fell 0.5% to around $0.7348 after the data, while the greenback rose on upbeat U.S. economic data.

- Date: 2020-09-02 · published 2020-09-02T12:00:00.000Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/51362-dollar-buoyed-by-upbeat-u-s-economic-data-aussie-falls
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A firmer dollar and a weaker Aussie reduce the purchasing power of Australian buyers and can soften Australian export commodity prices in dollar terms.

## Read by commodity

- DXY: bullish ▲
- AUDUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2020-09-17 | [Yuan falls on dollar strength after Fed's upbeat economic outlook \| Financial Post](https://feedsoft.ai/events/51315-yuan-falls-on-dollar-strength-after-fed-s-upbeat-economic-outlook-financial-post.md) | +1.6% | +0.6% |
| DXY | 2024-10-17 | [US dollar buoyed by retail sales data, euro falls as more cuts underway](https://feedsoft.ai/events/28050-us-dollar-buoyed-by-retail-sales-data-euro-falls-as-more-cuts-underway.md) | +0.6% | +2.5% |
| DXY | 2023-02-02 | [Oil slumps on economic data, stronger U.S. dollar](https://feedsoft.ai/events/37234-oil-slumps-on-economic-data-stronger-u-s-dollar.md) | +1.3% | +2.1% |
| DXY | 2022-10-27 | [Euro falls against the dollar after ECB rate hike, U.S. data](https://feedsoft.ai/events/39360-euro-falls-against-the-dollar-after-ecb-rate-hike-u-s-data.md) | +0.7% | -2.5% |
| DXY | 2017-10-30 | [US tax and upbeat economic outlooks lift dollar’s fortunes \| The National](https://feedsoft.ai/events/68659-us-tax-and-upbeat-economic-outlooks-lift-dollar-s-fortunes-the-national.md) | -0.2% | -1.6% |

## Sources

- reuters.com: https://www.reuters.com/article/global-forex-update-1/forex-dollar-buoyed-by-upbeat-u-s-economic-data-aussie-falls-idINL4N2FZ17C/

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