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A market commentary notes the US dollar index looks toppy and the Australian dollar is recovering from lows. Westpac's event wrap reports US Q1 GDP was revised to -1.5%, pending home sales fell 11.5% in April, and personal consumption beat expectations.
Weaker US housing and growth data point to a softer dollar outlook, which tends to support dollar-denominated commodity prices, though the effect on feed markets is modest.
au.investing.comMay 27, 2022Not enough comparable past events yet for a historical read.
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.
