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The Australian and New Zealand dollars found modest support as Treasury yields fell. The Aussie traded near $0.6498 after a four-month low of $0.6434, and the kiwi held near $0.5895 after the RBNZ cut rates by 50 basis points to 4.25%.
Markets are pricing diverging rate paths between the two countries.
Currency moves in AUD and NZD shift the import cost of feed ingredients and influence Australian export competitiveness for grains and meat. The impact on commodity prices is limited and mostly indirect.
brecorder.comReutersNov 28, 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.
