# Australian dollar drops on greenback strength, stocks rise - ABC News

> The Australian dollar fell about half a cent to just above 72 US cents as the US dollar strengthened on expectations of further Federal Reserve rate increases. US stocks rose, with the S&P 500 up 0.3 per cent, while Milan fell as much as 2 per cent on reports of a looser Italian budget.

- Date: 2018-09-28 · published 2018-09-28T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/63297-australian-dollar-drops-on-greenback-strength-stocks-rise-abc-news
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

A stronger US dollar and higher US rates tend to pressure dollar-denominated commodity prices and support demand for US-priced feed ingredients, while a weaker Aussie affects Australian feed import costs.

## Read by commodity

- DXY: bullish ▲
- AUDUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2024-06-29 | [Major bank: Australian dollar steamrolled by greenback - MacroBusiness](https://feedsoft.ai/events/29965-major-bank-australian-dollar-steamrolled-by-greenback-macrobusiness.md) | -0.7% | -0.1% |
| DXY | 2022-09-22 | [SBS On the Money: Why US rate rise means higher Australian rates and lower dollar \| SBS News](https://feedsoft.ai/events/39837-sbs-on-the-money-why-us-rate-rise-means-higher-australian-rates-and-lower.md) | +1.9% | +1.8% |
| DXY | 2018-12-20 | [Australian dollar sideswiped by Fed, data \| SBS News](https://feedsoft.ai/events/61805-australian-dollar-sideswiped-by-fed-data-sbs-news.md) | -0.1% | -1.1% |
| DXY | 2025-02-28 | [The latest Australian dollar sell-off is a red flag for the economy - ABC News](https://feedsoft.ai/events/26332-the-latest-australian-dollar-sell-off-is-a-red-flag-for-the-economy-abc-news.md) | -1.5% | -1.3% |
| DXY | 2021-11-25 | [Asian stocks fall on dollar strength, Bank of Korea hikes rates \| Reuters](https://feedsoft.ai/events/44286-asian-stocks-fall-on-dollar-strength-bank-of-korea-hikes-rates-reuters.md) | -0.2% | -0.6% |

## Sources

- abc.net.au: https://www.abc.net.au/news/2018-09-28/australian-dollar-drops-on-greenback-strength/10315792

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