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The Australian and New Zealand dollars paused after a month of large gains as markets awaited signs that Russia would de-escalate in Ukraine. The Aussie held near $0.7510 after reaching five-month highs against the US dollar.
Russian de-escalation talk lifted risk sentiment but eased energy prices.
A firmer Aussie raises the cost of Australian commodity exports in US dollar terms, which can weigh modestly on sentiment for resource prices. The move is mainly a currency story with limited direct effect on feed ingredient prices.
brecorder.comReutersMar 30, 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.
