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The Australian and New Zealand dollars rose to near multi-month highs on hopes of stronger Chinese stimulus. Iron ore lifted above $100 a metric ton as the prospect of Chinese demand revival boosted commodities.
The Aussie was held near $0.6889 with resistance at the 19-month high.
Chinese stimulus expectations lift commodity demand sentiment, which is supportive for industrial metals and resource currencies; for feed buyers the link to grain and meal prices is indirect.
brecorder.comReutersSep 27, 2024Not enough comparable past events yet for a historical read.
After 169 past neutral macro events, Chinese Yuan (CNY per USD) moved a median +0.0% over 5 sessions (50% higher; middle half -0.3% to +0.2%), and -0.0% 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.
