# AUD/USD: Energy price rout threatens the Aussie stability - Westpac - Forex Crunch

> Westpac says the sharp fall in energy prices is threatening the relative stability the Australian dollar had enjoyed recently. It notes LNG, Australia's third-largest export, is priced off oil and coal prices are being dragged lower by the oil rout. Iron ore is holding near $85 per tonne, but education and tourism exports face a difficult year.

- Date: 2020-04-24 · published 2020-04-24T12:00:00.000Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/53894-aud-usd-energy-price-rout-threatens-the-aussie-stability-westpac-forex-crunch
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A weaker AUD tends to pressure dollar-denominated commodity prices and shifts Australian export economics, which matters for feed grain and barley pricing from Australia. Energy weakness also feeds into diesel and freight costs for feed buyers.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼
- AUDUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2024-07-30 | [Crude Prices Retreat on the Prospects of Weaker Chinese Energy Demand](https://feedsoft.ai/events/29445-crude-prices-retreat-on-the-prospects-of-weaker-chinese-energy-demand.md) | -3.7% | +1.7% |
| WTI | 2020-03-27 | [Oil price crash: a glimpse into the future for global energy markets? Q&A with Pierre Noel](https://feedsoft.ai/events/7880-oil-price-crash-a-glimpse-into-the-future-for-global-energy-markets-q-and-a.md) | +37.1% | -32.8% |
| WTI | 2021-08-30 | [USD/CAD Falls on Easing PPI, Energy Prices Come Into Focus](https://feedsoft.ai/events/45796-usd-cad-falls-on-easing-ppi-energy-prices-come-into-focus.md) | +0.8% | +9.7% |
| WTI | 2020-03-30 | [USD/CAD climbs to daily highs above 1.4150 as WTI extends slide below $20 - Forex Crunch](https://feedsoft.ai/events/54357-usd-cad-climbs-to-daily-highs-above-1-4150-as-wti-extends-slide-below-20-forex.md) | +64.1% | -28.3% |
| WTI | 2024-05-30 | [Crude Prices Weighed Down by Energy Demand Concerns](https://feedsoft.ai/events/30418-crude-prices-weighed-down-by-energy-demand-concerns.md) | -6.5% | +3.4% |
| BRENT | 2024-07-30 | [Crude Prices Retreat on the Prospects of Weaker Chinese Energy Demand](https://feedsoft.ai/events/29445-crude-prices-retreat-on-the-prospects-of-weaker-chinese-energy-demand.md) | -4.3% | +0.7% |
| BRENT | 2020-03-27 | [Oil price crash: a glimpse into the future for global energy markets? Q&A with Pierre Noel](https://feedsoft.ai/events/7880-oil-price-crash-a-glimpse-into-the-future-for-global-energy-markets-q-and-a.md) | -1.2% | -25.9% |
| BRENT | 2020-02-27 | [Rupee strengthens against USD amid easing crude oil prices](https://feedsoft.ai/events/54861-rupee-strengthens-against-usd-amid-easing-crude-oil-prices.md) | -5.0% | -51.1% |

## Sources

- forexcrunch.com: https://www.forexcrunch.com/blog/2020/04/24/aud-usd-energy-price-rout-threatens-the-aussie-stability-westpac/

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