Loading…
Standard Chartered analysts said the Australian dollar could keep rising as commodity prices lift Australia's terms of trade. Coal, LNG and petroleum made up about 28% of 2021 goods exports, and agricultural goods another 12%.
Speculative short positions in the Aussie were being covered from near-record levels.
Higher commodity prices improve Australia's export income and support the currency. Short covering can add to near-term currency gains, which affects the cost of Australian grain and meal exports.
reuters.comMar 9, 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.
