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Australia's third-quarter GDP grew at its slowest annual pace since the pandemic, with government spending doing most of the work. The Australian dollar slid 0.7% to $0.6442 and markets moved to nearly fully price a rate cut in April.
Weaker domestic growth and expected rate cuts push the Aussie lower, which tends to support Australian export competitiveness for grains and meal. The data does not directly change crop supply.
reuters.comStella QiuDec 4, 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.
