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The Australian dollar hovered near US$0.6367 after touching a fresh 11-month low of US$0.6332 as a key support level gave way. The move followed a sharp rise in Treasury yields and soft Australian retail sales and job vacancy data.
Traders saw the data supporting an extended RBA rate pause.
A weaker Aussie and stronger dollar make Australian grain and feed exports more competitive on world markets, which can weigh on feed grain prices. The move reflects global rate expectations rather than a change in feed supply.
businesstimes.com.sgSep 28, 2023Not enough comparable past events yet for a historical read.
After 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.
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.
