# Australian dollar drops, ASX expected to recover after global sell-off - ABC News

> The Australian dollar fell sharply after worse-than-expected GDP growth of 2.8 per cent, its slowest annual pace in two years. ASX futures pointed to a modest rebound, and Brent crude traded near $61.70 a barrel.

- Date: 2018-12-05 · published 2018-12-05T12:00:00.000Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/61807-australian-dollar-drops-asx-expected-to-recover-after-global-sell-off-abc-news
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Weak Australian growth and a softer currency reflect slower demand from a key Asian market, a mild negative for commodity demand and feed-related export prices.

## Read by commodity

- BRENT: neutral
- AUDUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2022-10-30 | [U.S. Dollar's Recovery Can Be Extended \| Investing.com](https://feedsoft.ai/events/39331-u-s-dollar-s-recovery-can-be-extended-investing-com.md) | +4.0% | -12.3% |
| BRENT | 2020-06-12 | [Australian Dollar Looks Like a 'Petro Currency': CBA](https://feedsoft.ai/events/52878-australian-dollar-looks-like-a-petro-currency-cba.md) | +9.1% | +11.0% |
| BRENT | 2022-11-24 | [Canadian dollar steadies as investors cheer Fed’s dovish signal - Markets - Business Recorder](https://feedsoft.ai/events/38909-canadian-dollar-steadies-as-investors-cheer-fed-s-dovish-signal-markets.md) | -0.2% | -5.2% |
| BRENT | 2024-12-31 | [Baht, oil prices expected to face volatility in 2025: NESDC](https://feedsoft.ai/events/27244-baht-oil-prices-expected-to-face-volatility-in-2025-nesdc.md) | +4.2% | +4.6% |
| BRENT | 2020-07-21 | [Ringgit dibuka tinggi, sentimen risiko global kian baik - DestinaAsia](https://feedsoft.ai/events/52379-ringgit-dibuka-tinggi-sentimen-risiko-global-kian-baik-destinaasia.md) | +0.3% | +4.3% |

## Sources

- abc.net.au: https://www.abc.net.au/news/2018-12-06/dollar-plummets-asx-recover-dollar-wall-street-markets/10588134

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