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AUD/USD fell over 0.2% to the 0.6610s after Australia's February monthly CPI rose 3.4% year on year, slightly below the 3.5% expected. Iron ore prices dropped more than 2.5% and the broad US dollar firmed on solid US data.
Softer inflation brings forward expected RBA rate cuts, which weakens the Australian dollar, while lower iron ore prices weigh on Australia's main export income. Neither move has a direct effect on feed grain prices.
octaafrica.netMar 27, 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.
