# Australian Dollar Rebounds on Iron Ore and Gold Rush

> The Australian dollar reached its strongest level since early 2019, helped by rallies in iron ore and gold. Weakness in the US dollar after the Federal Reserve began a path of aggressive monetary easing also supported the Aussie. US coronavirus cases had passed 5.5 million, while Australia had recorded about 24,000 cases.

- Date: 2020-08-20 · published 2020-08-20T12:00:00.000Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/51894-australian-dollar-rebounds-on-iron-ore-and-gold-rush
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Currency strength in the Aussie and weakness in the greenback can shift relative export competitiveness and import costs for dollar-priced commodities. The price effect on feed inputs is indirect.

## Read by commodity

- DXY: bearish ▼
- AUDUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2024-08-20 | [RBA interest rates: Australian dollar rally brushes off iron ore price crash](https://feedsoft.ai/events/29062-rba-interest-rates-australian-dollar-rally-brushes-off-iron-ore-price-crash.md) | -0.2% | -0.2% |
| DXY | 2017-07-31 | [Australian Dollar retests 80 U.S. cents - OFX](https://feedsoft.ai/events/70236-australian-dollar-retests-80-u-s-cents-ofx.md) | +0.3% | -0.5% |
| DXY | 2017-08-31 | [Australian Dollar has 80c in sight - OFX](https://feedsoft.ai/events/69699-australian-dollar-has-80c-in-sight-ofx.md) | -1.4% | +0.8% |
| DXY | 2019-04-29 | [Goldman turns nonsensical on the Australian dollar - MacroBusiness](https://feedsoft.ai/events/59835-goldman-turns-nonsensical-on-the-australian-dollar-macrobusiness.md) | -0.2% | +0.5% |
| DXY | 2023-11-29 | [The Australian dollar is surging. Here’s why](https://feedsoft.ai/events/33404-the-australian-dollar-is-surging-here-s-why.md) | +1.0% | -0.9% |

## Sources

- wsj.com: https://www.wsj.com/articles/australian-dollar-rebounds-on-iron-ore-and-gold-rush-11597920113?reflink=e2twmkts

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