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Commonwealth Bank of Australia downgraded its Australian dollar forecasts, expecting further weakness in AUD/USD this year. It attributed the decline to falling commodity prices after China's Two Sessions failed to deliver expected stimulus, and it estimated export commodity prices could fall 15-20%.
Expected falls in Australian export commodity prices, driven by weak Chinese demand, point to softer metals and bulk exports, with a weaker AUD reflecting that outlook.
poundsterlinglive.comJames SkinnerApr 18, 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.
