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The Australian and New Zealand dollars held flat after heavy losses this year, with the Aussie at $0.6215 (down 8.8% in 2025 terms, as reported) and the kiwi at $0.5637. Markets see rising odds of rate cuts from the RBA and RBNZ, while Fed cut expectations have been scaled back.
Traders also flagged risk from US tariff policy.
A weaker Aussie reflects a stronger US dollar and wider yield gaps, which can lower the cost of Australian grain and barley for export buyers. Ongoing tariff uncertainty adds downside risk to China-linked commodity demand.
brecorder.comReutersDec 31, 2024Not enough comparable past events yet for a historical read.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% 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.
