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The Australian dollar hovered near 0.7000 against the US dollar as investors awaited the Reserve Bank of Australia's policy decision, with a 25 basis point hike to 4.85% expected. Weak Asian equities and falling oil prices weighed on sentiment, and money markets trimmed Fed hike odds to 72%.
Lower oil prices reduce inflation pressure and can soften the US dollar and commodity-linked currencies, which matters for feed input costs priced in USD. A hawkish RBA could support AUD in the near term.
fxstreet.comChristian Borjon ValenciaNov 2, 2026
mitrade.comFxstreetNov 2, 2026After 565 past bearish macro events, Crude Oil (WTI) moved a median -1.4% over 5 sessions (41% higher; middle half -5.9% to +3.0%), and -0.5% over 20.
After 359 past neutral macro events, US Dollar (Broad) moved a median -0.0% over 5 sessions (49% higher; middle half -0.4% to +0.4%), and -0.1% over 20.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
