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The Australian and New Zealand dollars fell on Monday as commodity prices slid on concerns about China's property sector. China Evergrande said it could not issue new bonds after an investigation into a flagship onshore unit.
Iron ore fell 2% to 844.5 yuan a ton.
Weaker Chinese property demand reduces demand for industrial commodities and pressures Australian export currencies. The effect on feed grain prices is limited.
brecorder.comReutersSep 25, 2023Not enough comparable past events yet for a historical read.
After 398 past bullish macro events, Chinese Yuan (CNY per USD) moved a median +0.0% over 5 sessions (56% higher; middle half -0.3% to +0.5%), and +0.0% 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.
