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The Australian dollar reached a three-month high near US$0.67 in early December, gaining nearly 5% over November, its strongest monthly gain of 2023. The gain was driven mainly by a broad slide in the US dollar index, which fell more than 3% in the month.
Broad US dollar weakness lifts dollar-priced commodity values and can support export-oriented demand for grains and meals, though the currency move alone does not change physical supply.
news.com.auJack QuailDec 2, 2023Not enough comparable past events yet for a historical read.
After 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.
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.
