# Reserve Bank interest rates, Aussie dollar jumps, Wall St mixed, ASX set for weak open - ABC News

> The Australian dollar climbed back above 80 US cents ahead of the Reserve Bank of Australia's meeting, where the cash rate was widely expected to stay at 1.5 per cent. Iron ore jumped about 7 per cent overnight to near US$74 a tonne, and Goldman Sachs expects prices to start declining by year-end.

- Date: 2017-07-31 · published 2017-07-31T12:00:00.000Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/70235-reserve-bank-interest-rates-aussie-dollar-jumps-wall-st-mixed-asx-set-for-weak
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

A stronger Aussie dollar and a firm iron ore price affect Australian export income and the cost of imported goods, but neither has a direct effect on feed grain or meal prices.

## Sources

- abc.net.au: https://www.abc.net.au/news/2017-08-01/asx-wall-st-aud-share-market-wrap/8761624

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