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The RBA held its cash rate steady and repeated that it will not cut until it is confident inflation will return to the 2-3% target midpoint. Labour market strength and elevated vacancies reinforce the hawkish tone.
Markets dialled back easing bets, and AUD/USD rose on narrowing US yield differentials.
A hawkish RBA supports the AUD and raises the cost of Australian farm finance, with limited direct effect on feed commodity prices.
forex.comDavid ScuttNov 5, 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.
