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Australia's Q2 CPI showed underlying inflation undershooting expectations, with the trimmed mean rising 0.8% quarterly and 3.9% annually. Australian rate markets shifted to pricing the next RBA move as a cut rather than a hike, and the AUD fell to multi-month lows.
Lower Australian rate expectations weaken the AUD, which can make Australian grain, oilseed and meat exports relatively cheaper, a modest bearish factor for global feed commodity prices.
forex.comDavid ScuttJul 31, 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.
