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The Australian dollar broke above 70 US cents for the first time since August, supported by a weaker US dollar, higher commodity prices tied to China's reopening, and signs that global inflation has peaked. Resistance sits at the August high of $0.7136.
A stronger Aussie reflects improved China demand prospects for Australian commodities, which is a mildly constructive signal for global commodity sentiment. It has no direct effect on feed grain prices.
brecorder.comReutersJan 16, 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.
