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The Australian dollar rose to US64.86 cents from US64.73 cents after October CPI came in hotter than expected, with headline inflation at 3.8% and trimmed mean at 3.3%. The reading largely ruled out further RBA rate relief in early December.
Analysts said elevated inflation is becoming the new norm.
Persistent inflation and a hold on RBA rates support the AUD, which has only a minor indirect effect on Australian agricultural export prices. Feed buyers should treat it as background macro news.
Not enough comparable past events yet for a historical read.
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.