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The Australian and New Zealand dollars fell sharply as concerns over COVID lockdowns in China cut Chinese demand and dragged down commodity prices. Iron ore was particularly hard hit, and the Aussie dropped to a two-month low near $0.7185.
Weaker Chinese demand for industrial and agricultural commodities pressures prices and reflects lower Chinese import appetite, including for feed grains and meal. Currency weakness in commodity exporters can also shift export pricing.
brecorder.comReutersApr 26, 2022Not 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.
