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The Reserve Bank of Australia raised its cash rate to 3.85%, its highest in over a decade, while softening its guidance on further hikes. The Australian dollar fell to a two-month low of $0.6690 and bond futures rallied as investors priced in a possible pause.
A softer RBA stance and a weaker Aussie reduce pressure on Australian borrowing costs and currency-driven feed import costs, with little direct effect on feed grain prices.
reuters.comStella QiuMar 7, 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.
