
The kiwi dollar rose 0.2% to $0.5919 ahead of a widely expected Reserve Bank of New Zealand rate hike to 2.75% on Wednesday. The Aussie edged up to $0.7170 after losing 0.5% on Friday.
Oil rose over 2% on renewed US-Iran fighting.
Rate-driven currency moves mainly affect dairy and meat export pricing for New Zealand and Australia. The oil move adds to energy and freight cost pressure for feed buyers.
After 487 past bullish macro events, Crude Oil (WTI) moved a median +1.0% over 5 sessions (60% higher; middle half -2.0% to +4.0%), and +1.5% over 20.
After 15 past neutral macro events, Milk (Class III) moved a median -0.2% over 5 sessions (27% higher; middle half -2.1% to +0.1%), and -3.2% 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.