# AUD/USD: Dollar Drops after Shock US Services Contraction - Currency Live

> The Australian dollar rose slightly against the US dollar on Friday, recouping some earlier losses after weak US manufacturing and services PMI data. The Aussie remains a proxy for coronavirus concerns and is near decade lows.

- Date: 2020-02-21 · published 2020-02-21T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/54853-aud-usd-dollar-drops-after-shock-us-services-contraction-currency-live
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

Currency swings of this size have little direct effect on feed grain prices, though a softer dollar can modestly support US commodity prices.

## Read by commodity

- DXY: bearish ▼
- AUDUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2019-10-31 | [GBP/USD: Pound Gains vs Dollar As Fed Cuts Rates - Currency Live](https://feedsoft.ai/events/56803-gbp-usd-pound-gains-vs-dollar-as-fed-cuts-rates-currency-live.md) | -0.1% | +0.8% |
| DXY | 2024-09-27 | [US dollar slumps after softer inflation, China rate cut. AUD/USD hits 18 month high](https://feedsoft.ai/events/28578-us-dollar-slumps-after-softer-inflation-china-rate-cut-aud-usd-hits-18-month.md) | +0.9% | +2.9% |
| DXY | 2022-10-25 | [Pound surges against dollar after US house price shock](https://feedsoft.ai/events/39397-pound-surges-against-dollar-after-us-house-price-shock.md) | -0.3% | -3.0% |
| DXY | 2020-07-29 | [Is the US dollar losing its clout as the world's reserve currency?](https://feedsoft.ai/events/52391-is-the-us-dollar-losing-its-clout-as-the-world-s-reserve-currency.md) | +0.4% | -0.4% |
| DXY | 2018-07-31 | [GBP/USD: Pound Higher vs Dollar As Investors Dump The Greenback - Currency Live](https://feedsoft.ai/events/64274-gbp-usd-pound-higher-vs-dollar-as-investors-dump-the-greenback-currency-live.md) | +0.6% | +0.6% |

## Sources

- currencylive.com: https://currencylive.com/news/102467-aud-usd-dollar-drops-after-shock-us-services-contraction/

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