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The Australian dollar rose about 0.4% to $0.6675 after May inflation came in at 4.0%, above the 3.8% forecast. Core inflation reached 4.4%, and three-year bond futures fell sharply.
Market odds of an August RBA hike jumped from 12% to 39%.
A hawkish RBA surprise lifts the Aussie and shifts rate expectations, which affects Australian export pricing and the cost of imported feed inputs. The impact on grain and oilseed prices is indirect and modest.
finimize.comFinimize NewsroomJun 26, 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.
