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Overnight index swaps are fully priced for the Reserve Bank of Australia to cut its cash rate by 25 basis points to 4.1% by June, after a softer-than-expected Australian CPI report. AUD/USD has traded in a narrow range despite a busy macro calendar.
Expected RBA easing narrows Australia's yield advantage and tends to weaken the Aussie, which can affect Australian grain and export pricing sentiment. The impact on feed commodity prices is indirect.
forex.comDavid ScuttJan 31, 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.
