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The Aussie and Kiwi outperformed as the US dollar eased on lower Treasury yields, with AUD/USD climbing to 0.6553. The People's Bank of China cut its 5-year loan prime rate to 3.95% from 4.20%, its first cut since June 2023, aimed at bolstering the property sector.
The PBOC's real-estate easing supports Chinese demand sentiment for industrial commodities and feed inputs, while the weaker dollar and firmer Aussie modestly affect Australian grain export pricing.
fxstreet.comMichael MoranFeb 21, 2024After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% 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.
