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The Australian dollar held near 0.6800 after monthly CPI for July eased to 3.5% from 3.8% but came in above the 3.5% forecast. The result kept hopes alive that the RBA would hold its 4.35% cash rate steady for the rest of the year.
Firmer Australian rates support the AUD, a currency that tracks commodity demand, while a softer USD lifts dollar-priced commodities for buyers outside the US.
fxstreet.comSagar DuaAug 28, 2024Not enough comparable past events yet for a historical read.
After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% 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.
