# Forex investors betting Australia's bush fires will hurt currency - Times of News

> Foreign exchange investors are betting that Australia's bushfires, which have burned an area the size of South Korea and killed 27 people, will hurt the economy. Some traders are short-selling the Australian dollar, targeting 0.6728 from around 0.6875. Analysts expect tourism and spending to suffer and that the crisis could push the RBA toward rate cuts.

- Date: 2020-01-13 · published 2020-01-13T12:00:00.000Z
- Category: weather · region Australia · magnitude medium
- Page: https://feedsoft.ai/events/55364-forex-investors-betting-australia-s-bush-fires-will-hurt-currency-times-of-news
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

Bushfire damage and possible RBA easing both point to a weaker AUD, which lowers the USD price of Australian commodity exports. The effect on feed markets is indirect but relevant for buyers sourcing from Australia.

## Read by commodity

- AUDUSD: bearish ▼

## Sources

- singapore.timesofnews.com: https://singapore.timesofnews.com/business-economy/forex-investors-betting-australias-bush-fires-will-hurt-currency.html

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