# A new day, a new month - OFX

> The Australian dollar was weak on 1 November 2017 as persistently low inflation reduced hopes for rate increases, prompting liquidation of long positions. AUD/USD hit a high of 0.7696 before falling back below its main moving averages. Eurozone and US data were positive.

- Date: 2017-10-31 · published 2017-10-31T12:00:00.000Z
- Category: market · region Australia · magnitude low
- Page: https://feedsoft.ai/events/68704-a-new-day-a-new-month-ofx
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

Currency weakness driven by rate expectations has minimal direct impact on feed grain or protein prices.

## Sources

- ofx.com: https://www.ofx.com/en-au/forex-news/daily-and-weekly-market-news/2017/11/01/a-new-day-a-new-month/

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