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VanEck expects the Australian dollar, which rose to 75 US cents, to reach 80 US cents within six months. The firm cited improving terms of trade from strong commodity prices.
It noted that oil was up about 24% and wheat futures about 18% in March so far.
Rising wheat and oil prices strengthen Australia's terms of trade and currency, which raises the dollar cost of Australian grain exports. The forecast is an investment view rather than a supply event.
moneymanagement.com.auLiam CormicanMar 24, 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.
