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The Australian dollar is pressured by a relatively dovish RBA and a Fed expected to deliver a large rate hike, with US Treasury yields driving the dollar. Headline US inflation was 8.3% year on year to end-August, and the RBA is weighing a 25 or 50 basis point hike.
Rate differentials and weaker commodity prices are working against the Aussie, which in turn shapes the competitiveness of Australian feed-relevant exports and dollar-priced commodities.
ig.comDaniel McCarthySep 19, 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.
