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The Australian dollar rallied about 1% to above US$0.67 on Monday after reports that China's planning agency would remove consumption restrictions and support the property market. The move lifted demand for commodity-linked currencies.
Chinese stimulus signals support demand for Australian commodities, which can firm grain and meat export values, though the effect is modest.
ofx.comTuesdayJul 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.
