# Aussie drops below 0.71 after better than expected US numbers - OFX

> The Australian dollar dropped 0.6% below 0.71 after stronger-than-expected US GDP and inflation data. The New Zealand dollar weakened on poor local business confidence, and sterling eased on Brexit uncertainty.

- Date: 2019-02-28 · published 2019-02-28T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/60849-aussie-drops-below-0-71-after-better-than-expected-us-numbers-ofx
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A firmer US dollar on strong US data weighs on commodity-linked currencies, which can soften dollar-denominated grain prices in Australia and reduce Australian export competitiveness.

## Read by commodity

- DXY: bullish ▲
- AUDUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2019-07-28 | [C$ steadies, after hitting 1-month low on better-than-expected US data - The Business Times](https://feedsoft.ai/events/58338-c-steadies-after-hitting-1-month-low-on-better-than-expected-us-data-the.md) | +0.6% | +1.5% |
| DXY | 2025-09-26 | [South African rand edges down after better-than-expected U.S. data \| CNBC Africa](https://feedsoft.ai/events/23176-south-african-rand-edges-down-after-better-than-expected-u-s-data-cnbc-africa.md) | -0.1% | +0.3% |
| DXY | 2021-11-23 | [Dollar gains, euro recovers on better than expected data \| Reuters](https://feedsoft.ai/events/11254-dollar-gains-euro-recovers-on-better-than-expected-data-reuters.md) | +0.5% | +0.4% |
| DXY | 2023-10-12 | [Dollar gains after US consumer prices rise more than expected](https://feedsoft.ai/events/33817-dollar-gains-after-us-consumer-prices-rise-more-than-expected.md) | +0.9% | -0.6% |
| DXY | 2022-01-31 | [Aussie dollar falls below US70¢ ahead of RBA decider](https://feedsoft.ai/events/43383-aussie-dollar-falls-below-us70-ahead-of-rba-decider.md) | -0.8% | -0.7% |

## Sources

- ofx.com: https://www.ofx.com/en-au/forex-news/daily-and-weekly-market-news/2019/03/01/aussie-drops-below-071-after-better-than-expected-us-numbers/

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