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US job openings and consumer confidence came in weaker than expected, pushing the US dollar and bond yields lower. The Australian dollar rebounded to 0.6480 and regional equities rallied.
The RBA's deputy governor said rates might need to rise again.
Weaker US data lowered the dollar and supported risk assets, which can ease pressure on dollar-priced commodities. The Australian dollar move has limited direct impact on feed prices.
westpaciq.com.auSean Callow, Westpac Australia Economics, Brendon Cooper, Robert Rennie, Tim RiddellAug 29, 2023Not enough comparable past events yet for a historical read.
Not 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.
