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The Australian dollar traded above 70 US cents on 4 November after the RBA lifted its cash rate to 4.85%. ABS data showed household spending rose 0.6% in September, with fuel spending up 5.4% even as fuel volumes fell 2.2%, linked to higher global oil prices.
Higher fuel costs and tighter monetary policy weigh on domestic demand and transport costs for Australian feed users. The currency reaction is modest, and the story mainly reflects energy-driven cost pressure.
fxnews.aiFXNews News DeskNov 4, 2026Not enough comparable past events yet for a historical read.
After 105 past bullish macro events, ULSD / Diesel moved a median -0.4% over 5 sessions (45% higher; middle half -3.4% to +1.8%), and +1.2% over 20.
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.
