# AUD/USD: Australian Dollar Sold as a Proxy for China - Currency Live

> The Australian dollar fell about 0.84% to 0.6773 against the US dollar on Monday, reaching six-week lows as investors sold it as a proxy for China. Stock markets in China, Hong Kong, South Korea and Australia were closed for the holiday, while the US dollar gained on haven demand. Authorities' efforts to contain the coronavirus are also expected to weigh on growth.

- Date: 2020-01-27 · published 2020-01-27T12:00:00.000Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/55358-aud-usd-australian-dollar-sold-as-a-proxy-for-china-currency-live
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

The AUD is trading as a proxy for Chinese growth, so a sustained decline signals weaker expected Chinese demand for Australian commodities. A weaker Aussie also tends to lower the USD cost of Australian feed grains and meal.

## Read by commodity

- AUDUSD: bearish ▼

## Sources

- currencylive.com: https://currencylive.com/news/102189-aud-usd-australian-dollar-sold-as-a-proxy-for-china/

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