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A rally in the US dollar, with the dollar index up about 5% this year, has pushed the Australian dollar down to a five-month low. Banks including NAB and Goldman Sachs cut their Aussie dollar forecasts on expectations of a stronger-for-longer greenback.
A firm US dollar weighs on commodity-linked currencies and can make dollar-priced commodities cheaper for other buyers, but the article focuses on the Aussie rather than feed prices.
au.headtopics.comFinancialReviewApr 22, 2024After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
Not 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.
