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The Australian dollar fell 0.93% to $0.6381 after the Reserve Bank of Australia softened its inflation outlook. The gains from the prior day's China stimulus pledge faded after weak Chinese November trade data showed exports slowing and imports unexpectedly shrinking.
China is Australia's largest trading partner, so weaker Chinese imports weigh on Australian export demand and the currency. A softer Aussie can make Australian feed grains and barley more competitive on world markets.
reuters.comHannah LangDec 10, 2024Not 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.
