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The Australian dollar traded at about US$0.6670 on Monday, slightly firmer after a rally on Friday that followed weaker US inflation. Australian monthly CPI rose to 4% in May, with fuel and electricity prices contributing.
The report kept expectations of an early RBA rate cut low.
With the Aussie holding above US$0.66, Australian-origin commodity contracts priced in US dollars stay relatively more expensive for importers. The move is a routine currency update without a new supply or demand driver for feed markets.
ofx.comBrett OttawaJun 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.
