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The Australian dollar traded flat and dipped to US$0.6580 after stronger US employment cost data raised expectations of another Fed hike. A soft PCE inflation reading lifted equities, and the AUD recovered to about US$0.6609 ahead of the RBA meeting.
Currency moves tied to Fed and RBA policy are macro drivers with minimal direct effect on feed grain or meal prices.
ofx.comMondayApr 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.
