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The Australian dollar rose about 0.9% to around 0.6708 against the US dollar after a monthly inflation gauge rose 0.8%. Money markets gave only a 14% chance of an RBA rate hike at the upcoming meeting.
A firmer Aussie dollar slightly lifts the cost of Australian grain and meat exports to dollar-based buyers, though the effect on feed prices is minor.
marketpulse.comKenneth FisherJul 31, 2023Not 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.
