# Australian Dollar Falls Below 0.70 Against US Dollar, Dragged Down by Weak Industrial Metal Prices

> The Australian dollar traded below 0.70 against the US dollar, according to Societe Generale analysts. The move followed the Reserve Bank of Australia's rate hike, which was described as dovish, and weaker industrial metal prices.

- Date: 2026-11-03 · published 2026-11-03T18:09:59.438Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/78113-australian-dollar-falls-below-0-70-against-us-dollar-dragged-down-by-weak
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

Australia is a major exporter of industrial metals and a feed-grain and oilseed supplier, so a weaker Aussie dollar can make Australian barley, canola and other exports more competitive abroad. The move is driven mainly by metals rather than rate differentials, so its effect on feed commodity prices is limited.

## Read by commodity

- AUDUSD: bearish ▼

## Sources

- fxbus.com: https://www.fxbus.com/en/news/20261103170946185656.html

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