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The Reserve Bank of Australia's November 2017 review says advanced-economy central banks are moving to less accommodative policy and markets expect rate increases sooner. Sovereign bond yields have risen from recent lows, and equity indices have reached record highs with credit spreads tight.
The US dollar has risen slightly but remains below its end-2016 level, and the Australian dollar has eased a little.
Expectations of tighter global monetary policy and a firmer dollar tend to weigh on commodity prices and emerging-market currencies, which affects the cost of imported feed inputs. Financial conditions remain loose, which limits the near-term price effect.
rba.gov.auscheme=AGLSTERMS.AglsAgent, corporateName=Reserve Bank of AustraliaNov 27, 2017After 621 past macro events, Brazilian Real (BRL per USD) moved a median +0.2% over 5 sessions (53% higher; middle half -1.3% to +1.4%), and +0.6% 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.
