Loading…
Westpac's Markets Daily on June 23 reported bond yields rising after rate hikes in the UK, Norway and Switzerland. Sterling weakness suggested recession concerns, while the US dollar rose against most majors and USD/JPY reached a high since November.
AUD/USD slipped to 0.6755 and the report previewed flash PMI data.
A broad dollar rally and rising global yields make dollar-priced commodities costlier for non-US buyers and can pressure futures. The commentary describes routine FX moves without a new fundamental driver for feed markets.
westpaciq.com.auJun 22, 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.
