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The Australian dollar hit a 2.5-month low near $0.6578 as rising US yields lifted the greenback ahead of the Australian quarterly CPI release. The currency has lost about 4.8% in October, its biggest monthly drop since September 2022.
A weaker Aussie and stronger dollar generally make US-priced commodities cheaper for Australian buyers and can soften US export prices; the currency move is a macro driver rather than a direct grain or feed event.
brecorder.comReutersOct 29, 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.
