# Australian dollar above 70 US cents as fuel bills climb

> 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.

- Date: 2026-11-04 · published 2026-11-05T03:10:12.244Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/81033-australian-dollar-above-70-us-cents-as-fuel-bills-climb
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

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.

## Read by commodity

- AUDUSD: bullish ▲
- DIESEL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DIESEL | 2022-11-04 | [Canadian dollar posts biggest gain in 12 years as jobs surge](https://feedsoft.ai/events/38913-canadian-dollar-posts-biggest-gain-in-12-years-as-jobs-surge.md) | -2.7% | -25.0% |
| DIESEL | 2026-10-28 | [Diesel climbs for third straight week, while regular falls again - Blue Book](https://feedsoft.ai/events/1457-diesel-climbs-for-third-straight-week-while-regular-falls-again-blue-book.md) | -4.2% | — |
| DIESEL | 2023-10-25 | [Australia Q3 CPI inflation beats expectations, RBA hike in focus](https://feedsoft.ai/events/33881-australia-q3-cpi-inflation-beats-expectations-rba-hike-in-focus.md) | -2.1% | -3.9% |
| DIESEL | 2026-10-25 | [Arab News \| Oman import prices jump 11 . 7 % as fuel costs surge](https://feedsoft.ai/events/990-arab-news-oman-import-prices-jump-11-7-as-fuel-costs-surge.md) | -6.6% | — |
| DIESEL | 2018-02-11 | [As oil falters, fuel that drove bull run is cruising in Asia - The Business Times](https://feedsoft.ai/events/11358-as-oil-falters-fuel-that-drove-bull-run-is-cruising-in-asia-the-business-times.md) | +2.9% | +0.2% |

## Sources

- fxnews.ai: https://fxnews.ai/news/australian-dollar-household-spending-fuel-values-volumes-september-2026/

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