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The Australian dollar was weighed down as the US dollar index eased while US data remained strong and Fed officials signaled no rush to cut rates. Commentary described yields rising, stocks firming and a flat tone across commodity and emerging markets.
A firmer US dollar and higher US yields tend to pressure dollar-denominated grain and oilseed prices and reduce demand from Australian buyers, while a softer AUD can make Australian barley and wheat more competitive.
au.investing.comFeb 27, 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.
