# Australian Dollar tests 0.7000 as RBA hike looms amid risk-off mood

> 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%.

- Date: 2026-11-02 · published 2026-11-03T00:10:13.144Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/76431-australian-dollar-tests-0-7000-as-rba-hike-looms-amid-risk-off-mood
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

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.

## Read by commodity

- DXY: neutral
- WTI: bearish ▼
- AUDUSD: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2026-10-26 | [Aussie Dollar loses grip on 0.70 rally as Fed, RBA inflation tests lurk](https://feedsoft.ai/events/17328-aussie-dollar-loses-grip-on-0-70-rally-as-fed-rba-inflation-tests-lurk.md) | -3.2% | — |
| WTI | 2022-07-26 | [Australian dollar rocket running out of fuel \| Investing.com AU](https://feedsoft.ai/events/40742-australian-dollar-rocket-running-out-of-fuel-investing-com-au.md) | -3.1% | -6.5% |
| WTI | 2020-02-24 | [Virus-driven risk-off move lifts yen versus dollar](https://feedsoft.ai/events/54816-virus-driven-risk-off-move-lifts-yen-versus-dollar.md) | -16.0% | -61.7% |
| WTI | 2022-12-15 | [Oil prices slid 2% as dollar firms and central banks hike interest rates](https://feedsoft.ai/events/38152-oil-prices-slid-2-as-dollar-firms-and-central-banks-hike-interest-rates.md) | +1.3% | +3.5% |
| WTI | 2025-09-26 | [Australian dollar’s comeback could be short-lived](https://feedsoft.ai/events/23140-australian-dollar-s-comeback-could-be-short-lived.md) | -6.6% | -4.8% |
| DXY | 2021-11-10 | [Dollar near one-month low to yen as inflation test looms](https://feedsoft.ai/events/44279-dollar-near-one-month-low-to-yen-as-inflation-test-looms.md) | +1.1% | +1.8% |
| DXY | 2018-01-22 | [Westpac on why the Australian dollar is so strong (AUD rise ahead of fair value model)](https://feedsoft.ai/events/67230-westpac-on-why-the-australian-dollar-is-so-strong-aud-rise-ahead-of-fair-value.md) | -1.2% | -0.8% |
| DXY | 2024-11-15 | [Australian Dollar holds recovery ahead of US Retail Sales data](https://feedsoft.ai/events/27662-australian-dollar-holds-recovery-ahead-of-us-retail-sales-data.md) | +0.1% | +0.2% |

## Sources

- fxstreet.com: https://www.fxstreet.com/news/australian-dollar-tests-07000-as-rba-hike-looms-amid-risk-off-mood-202611022315
- mitrade.com: https://www.mitrade.com/au/insights/news/live-news/article-1-2223932-20261103

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