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Since July 12 the Australian dollar has lost about 3.5% against the USD, according to Commerzbank analysis. The weakness is attributed to China headwinds, including weak economic data, a disappointing Third Plenum, and no stimulus after expectations for the July Politburo meeting.
Weak Chinese growth expectations reduce demand for industrial metals and Australian exports, a bearish signal for commodities tied to China's economy and a modest factor for AUD-linked prices.
fxstreet.comFXStreet Insights TeamJul 30, 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.
