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AUD/USD held near 0.6550 as weak iron ore prices and Chinese economic concerns weighed on the Aussie. The article also flagged the upcoming Australian CPI release and the Fed's expected hold at 5.25%-5.50%, with a dollar recovery adding pressure.
Weak iron ore and China demand worries point to lower Australian export earnings and a weaker AUD, a minor bearish factor for commodity prices with little direct feed-grain impact.
octaafrica.netJul 29, 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.
