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Commentary says the US dollar is acting as a 'wrecking ball' on global currencies, so robust economies like Australia's offer little protection from depreciation despite a record trade surplus and stronger fiscal position.
A strong dollar weakens AUD, which lowers the cost of Australian exports such as grain, meat and barley to dollar buyers but is a broad macro headwind for commodity-linked currencies.
afr.comVesna PoljakSep 28, 2022After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
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.
