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The Australian and New Zealand dollars struggled to recover from three-week lows after strong US data, including an unexpected fall in jobless claims and upward revised first-quarter GDP, boosted expectations of further Federal Reserve tightening. Traders awaited the US PCE inflation reading, and the onshore yuan hit an eight-month low amid weak Chinese factory data.
A firmer US dollar and weaker Chinese demand signals pressure on Australia's commodity export earnings, a modest headwind for commodity prices.
brecorder.comReutersJun 30, 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.
