# Dollar dips as commodity currencies gain on recovery hopes | Financial Post

> The U.S. dollar fell against the Australian and New Zealand dollars and the pound after stronger-than-expected U.S. jobs data boosted recovery hopes. The Australian dollar reached its strongest level since January after China's export decline was smaller than expected. The dollar was firmer against the yen.

- Date: 2020-06-08 · published 2020-06-08T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/52527-dollar-dips-as-commodity-currencies-gain-on-recovery-hopes-financial-post
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

A firmer Australian dollar raises the cost of Australian grain and barley in dollar terms, which can lift export prices. Stronger commodity currencies also reflect improving demand expectations from China.

## Read by commodity

- DXY: bearish ▼
- AUDUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2021-08-24 | [Dollar slips further as oil rallies, commodity currencies gain \| Reuters](https://feedsoft.ai/events/12117-dollar-slips-further-as-oil-rallies-commodity-currencies-gain-reuters.md) | -0.6% | -0.1% |
| DXY | 2021-06-23 | [Asian currencies gain as Fed reassures on rates; Thai cbank in focus \| Financial Post](https://feedsoft.ai/events/46859-asian-currencies-gain-as-fed-reassures-on-rates-thai-cbank-in-focus-financial.md) | -0.6% | +0.4% |
| DXY | 2020-05-18 | [Dollar struggles as rising oil prices lift commodity currencies](https://feedsoft.ai/events/53034-dollar-struggles-as-rising-oil-prices-lift-commodity-currencies.md) | -1.0% | -2.9% |
| DXY | 2024-10-31 | [Dollar down against major currencies - Business & Finance - Business Recorder](https://feedsoft.ai/events/28051-dollar-down-against-major-currencies-business-and-finance-business-recorder.md) | +0.7% | +1.4% |
| DXY | 2021-05-11 | [Commodity currencies hold advantage as dollar waits for inflation and Fed \| Reuters](https://feedsoft.ai/events/47003-commodity-currencies-hold-advantage-as-dollar-waits-for-inflation-and-fed.md) | +0.3% | -0.1% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/dollar-dips-as-commodity-currencies-gain-on-recovery-hopes

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