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The AUD/USD pair recovered toward 0.6428 as the US dollar eased and Treasury yields fell. US second-quarter GDP grew 2.1% as expected, and Australian retail sales rose 0.2% in August, below the expected 0.3%.
Markets were awaiting the US core PCE inflation report.
A softer US dollar can support dollar-priced commodities, though the effect on feed prices from this currency move alone is small. Traders are watching US inflation data for the next move.
octabroker.comSep 29, 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.
